Mereo BioPharma Group plc (NASDAQ:MREO) Receives $7.71 Average Target Price from Analysts

Shares of Mereo BioPharma Group plc (NASDAQ:MREO) have been given an average rating of “Buy” by the eight brokerages that are presently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $7.71.

A number of research firms have recently commented on MREO. Cantor Fitzgerald restated an “overweight” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, March 18th. JPMorgan Chase & Co. initiated coverage on shares of Mereo BioPharma Group in a research report on Thursday, March 27th. They set an “overweight” rating and a $7.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research report on Wednesday. Finally, Lifesci Capital started coverage on shares of Mereo BioPharma Group in a research note on Tuesday, December 24th. They set an “outperform” rating and a $10.00 target price for the company.

Mereo BioPharma Group Stock Performance

NASDAQ MREO opened at $1.95 on Thursday. The business’s fifty day moving average is $2.49 and its 200 day moving average is $3.30. Mereo BioPharma Group has a fifty-two week low of $1.58 and a fifty-two week high of $5.02. The company has a market capitalization of $302.53 million, a PE ratio of -32.50 and a beta of 0.71.

Mereo BioPharma Group (NASDAQ:MREO) last posted its earnings results on Wednesday, March 26th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). On average, sell-side analysts forecast that Mereo BioPharma Group will post -0.03 EPS for the current year.

Institutional Trading of Mereo BioPharma Group

Hedge funds have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. purchased a new stake in shares of Mereo BioPharma Group in the fourth quarter valued at approximately $37,000. Jump Financial LLC purchased a new stake in Mereo BioPharma Group in the 4th quarter valued at $39,000. GAMMA Investing LLC increased its stake in shares of Mereo BioPharma Group by 109.5% in the 1st quarter. GAMMA Investing LLC now owns 18,855 shares of the company’s stock worth $42,000 after acquiring an additional 9,854 shares during the last quarter. Sheets Smith Investment Management purchased a new position in shares of Mereo BioPharma Group during the 4th quarter worth $59,000. Finally, Virtus ETF Advisers LLC purchased a new position in shares of Mereo BioPharma Group during the 4th quarter worth $67,000. Institutional investors and hedge funds own 62.83% of the company’s stock.

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.