Mereo BioPharma Group (NASDAQ:MREO) Receives Buy Rating from BTIG Research

Mereo BioPharma Group (NASDAQ:MREO)‘s stock had its “buy” rating restated by BTIG Research in a report released on Thursday,Benzinga reports. They currently have a $6.00 target price on the stock. BTIG Research’s target price points to a potential upside of 214.96% from the stock’s current price.

Several other analysts also recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Mereo BioPharma Group from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Monday, August 25th. Zacks Research raised Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Mereo BioPharma Group in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.20.

Mereo BioPharma Group Stock Performance

Mereo BioPharma Group stock opened at $1.91 on Thursday. The business’s 50-day simple moving average is $1.95 and its two-hundred day simple moving average is $2.02. The company has a market cap of $303.14 million, a PE ratio of -31.75 and a beta of 0.44. Mereo BioPharma Group has a fifty-two week low of $1.47 and a fifty-two week high of $3.88.

Mereo BioPharma Group (NASDAQ:MREO) last released its earnings results on Monday, November 10th. The company reported ($0.01) EPS for the quarter. As a group, analysts predict that Mereo BioPharma Group will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Mereo BioPharma Group

Institutional investors have recently modified their holdings of the business. Marex Group plc acquired a new position in Mereo BioPharma Group in the 2nd quarter worth about $27,000. State of New Jersey Common Pension Fund D purchased a new stake in shares of Mereo BioPharma Group in the third quarter valued at approximately $32,000. Virtu Financial LLC acquired a new position in shares of Mereo BioPharma Group during the 3rd quarter worth approximately $33,000. Significant Wealth Partners LLC lifted its position in shares of Mereo BioPharma Group by 61.7% during the 2nd quarter. Significant Wealth Partners LLC now owns 22,261 shares of the company’s stock valued at $60,000 after buying an additional 8,490 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of Mereo BioPharma Group by 45.4% during the 3rd quarter. Squarepoint Ops LLC now owns 30,055 shares of the company’s stock valued at $62,000 after buying an additional 9,387 shares in the last quarter. 62.83% of the stock is currently owned by institutional investors and hedge funds.

Mereo BioPharma Group Company Profile

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.