Mereo BioPharma Group’s (MREO) Buy Rating Reiterated at BTIG Research

Mereo BioPharma Group (NASDAQ:MREO)‘s stock had its “buy” rating restated by equities researchers at BTIG Research in a research note issued on Tuesday,Benzinga reports. They currently have a $1.00 target price on the stock. BTIG Research’s target price suggests a potential upside of 306.50% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Mereo BioPharma Group in a research note on Thursday, January 22nd. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Mereo BioPharma Group in a research note on Monday, March 23rd. Needham & Company LLC dropped their price objective on shares of Mereo BioPharma Group from $5.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, January 13th. Finally, Lifesci Capital upgraded shares of Mereo BioPharma Group to a “hold” rating in a research note on Thursday, March 19th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $3.25.

Mereo BioPharma Group Price Performance

Shares of Mereo BioPharma Group stock opened at $0.25 on Tuesday. Mereo BioPharma Group has a 1 year low of $0.20 and a 1 year high of $3.05. The company has a market capitalization of $39.27 million, a P/E ratio of -4.10 and a beta of 0.24. The business has a 50 day moving average price of $0.33 and a 200 day moving average price of $0.91.

Mereo BioPharma Group (NASDAQ:MREO) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). As a group, research analysts expect that Mereo BioPharma Group will post -0.01 EPS for the current fiscal year.

Institutional Trading of Mereo BioPharma Group

A number of large investors have recently added to or reduced their stakes in MREO. Virtus Investment Advisers LLC lifted its stake in shares of Mereo BioPharma Group by 199.5% during the 4th quarter. Virtus Investment Advisers LLC now owns 122,595 shares of the company’s stock worth $51,000 after buying an additional 81,665 shares during the last quarter. Sphera Funds Management LTD. acquired a new position in shares of Mereo BioPharma Group during the 4th quarter valued at $106,000. Quadrature Capital Ltd acquired a new position in shares of Mereo BioPharma Group during the 4th quarter valued at $111,000. EcoR1 Capital LLC acquired a new position in shares of Mereo BioPharma Group during the 4th quarter valued at $3,274,000. Finally, Balyasny Asset Management L.P. bought a new stake in Mereo BioPharma Group during the 4th quarter valued at $533,000. Institutional investors and hedge funds own 62.83% of the company’s stock.

Mereo BioPharma Group Company Profile

Mereo BioPharma Group plc is a clinical?stage biopharmaceutical company focused on developing novel therapies for rare diseases, oncology and severe respiratory conditions. The company pursues an asset?centric model, in which it in-licenses or acquires clinical-stage small molecules and monoclonal antibodies with established safety profiles. By concentrating resources on a select number of programs, Mereo aims to accelerate proof-of-concept studies and maximize the potential value of each therapeutic candidate.

Mereo’s pipeline includes investigational therapies for skeletal disorders, such as setrusumab (BPS-804) for osteogenesis imperfecta, and treatments for acute and chronic respiratory diseases.