FY2024 EPS Estimates for Mereo BioPharma Group plc (NASDAQ:MREO) Boosted by Cantor Fitzgerald

Mereo BioPharma Group plc (NASDAQ:MREO) – Investment analysts at Cantor Fitzgerald increased their FY2024 earnings estimates for shares of Mereo BioPharma Group in a research note issued to investors on Wednesday, April 17th. Cantor Fitzgerald analyst K. Kluska now anticipates that the company will post earnings per share of ($0.05) for the year, up from their previous forecast of ($0.06). Cantor Fitzgerald currently has a “Overweight” rating and a $7.00 target price on the stock. The consensus estimate for Mereo BioPharma Group’s current full-year earnings is $0.03 per share.

Separately, Needham & Company LLC reissued a “buy” rating and issued a $6.00 price target on shares of Mereo BioPharma Group in a report on Wednesday, April 10th.

Mereo BioPharma Group Stock Down 0.4 %

Mereo BioPharma Group stock opened at $2.78 on Monday. Mereo BioPharma Group has a 1-year low of $0.92 and a 1-year high of $4.36. The company has a current ratio of 6.72, a quick ratio of 6.72 and a debt-to-equity ratio of 0.09. The firm has a 50 day simple moving average of $3.28 and a 200 day simple moving average of $2.73.

Hedge Funds Weigh In On Mereo BioPharma Group

Large investors have recently added to or reduced their stakes in the business. Golden State Equity Partners raised its position in Mereo BioPharma Group by 41.0% in the 4th quarter. Golden State Equity Partners now owns 20,300 shares of the company’s stock worth $47,000 after purchasing an additional 5,900 shares during the period. Clear Harbor Asset Management LLC increased its position in shares of Mereo BioPharma Group by 12.3% in the third quarter. Clear Harbor Asset Management LLC now owns 63,754 shares of the company’s stock valued at $82,000 after acquiring an additional 7,000 shares during the period. Formidable Asset Management LLC purchased a new position in shares of Mereo BioPharma Group in the third quarter valued at about $428,000. NEOS Investment Management LLC increased its position in shares of Mereo BioPharma Group by 751.5% in the fourth quarter. NEOS Investment Management LLC now owns 351,905 shares of the company’s stock valued at $813,000 after acquiring an additional 310,577 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new position in shares of Mereo BioPharma Group in the third quarter valued at about $1,032,000. Hedge funds and other institutional investors 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.