Brokers Offer Predictions for MREO FY2024 Earnings

Mereo BioPharma Group plc (NASDAQ:MREO) – Stock analysts at Cantor Fitzgerald issued their FY2024 earnings estimates for Mereo BioPharma Group in a research report issued on Tuesday, January 21st. Cantor Fitzgerald analyst K. Kluska forecasts that the company will post earnings of ($0.06) per share for the year. Cantor Fitzgerald has a “Strong-Buy” rating on the stock. The consensus estimate for Mereo BioPharma Group’s current full-year earnings is ($0.02) per share.

Several other brokerages have also recently weighed in on MREO. Needham & Company LLC reissued a “buy” rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a report on Monday, January 13th. Jefferies Financial Group assumed coverage on shares of Mereo BioPharma Group in a report on Friday, December 6th. They set a “buy” rating and a $7.00 target price for the company. Finally, Lifesci Capital initiated coverage on shares of Mereo BioPharma Group in a report on Tuesday, December 24th. They set an “outperform” rating and a $10.00 price target on the stock. Four investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $7.83.

Mereo BioPharma Group Price Performance

Shares of MREO stock opened at $3.10 on Thursday. Mereo BioPharma Group has a 52-week low of $2.80 and a 52-week high of $5.02. The business has a 50-day simple moving average of $3.50 and a 200-day simple moving average of $3.97.

Institutional Investors Weigh In On Mereo BioPharma Group

Several institutional investors have recently bought and sold shares of the company. PFG Investments LLC raised its holdings in shares of Mereo BioPharma Group by 132.0% during the fourth quarter. PFG Investments LLC now owns 39,433 shares of the company’s stock valued at $138,000 after acquiring an additional 22,433 shares during the last quarter. Avanza Fonder AB purchased a new stake in shares of Mereo BioPharma Group during the fourth quarter worth approximately $69,000. Frazier Life Sciences Management L.P. raised its stake in Mereo BioPharma Group by 15.8% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 5,097,779 shares of the company’s stock valued at $20,952,000 after purchasing an additional 696,408 shares during the last quarter. State Street Corp purchased a new position in Mereo BioPharma Group in the 3rd quarter valued at $195,000. Finally, Polar Asset Management Partners Inc. boosted its stake in Mereo BioPharma Group by 36.0% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 198,300 shares of the company’s stock worth $815,000 after purchasing an additional 52,500 shares during the last quarter. 62.83% of the stock is currently owned by institutional investors and hedge funds.

About Mereo BioPharma Group

Mereo BioPharma Group plc, a biopharmaceutical company, develops and commercializes therapeutics for the treatment of oncology and rare diseases in the United Kingdom, the United States, and internationally. It develops Etigilimab (MPH-313), an antibody T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial for the treatment of tumors.