BTIG Research Reiterates “Buy” Rating for Mereo BioPharma Group (NASDAQ:MREO)

Mereo BioPharma Group (NASDAQ:MREO)‘s stock had its “buy” rating restated by BTIG Research in a report issued on Tuesday,Benzinga reports. They presently have a $1.00 price target on the stock. BTIG Research’s price objective would indicate a potential upside of 306.50% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Lifesci Capital raised shares of Mereo BioPharma Group to a “hold” rating in a report on Thursday, March 19th. Needham & Company LLC decreased 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 report on Tuesday, January 13th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Mereo BioPharma Group in a research report on Monday, March 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mereo BioPharma Group in a research report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $3.25.

Mereo BioPharma Group Stock Performance

MREO opened at $0.25 on Tuesday. The firm has a market cap of $39.27 million, a P/E ratio of -4.10 and a beta of 0.24. The firm has a 50-day moving average of $0.33 and a 200 day moving average of $0.91. Mereo BioPharma Group has a fifty-two week low of $0.20 and a fifty-two week high of $3.05.

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

Institutional Investors Weigh In On Mereo BioPharma Group

Several hedge funds have recently added to or reduced their stakes in the stock. Virtus Investment Advisers LLC raised its stake in shares of Mereo BioPharma Group by 199.5% in the fourth 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 period. Sphera Funds Management LTD. purchased a new position in shares of Mereo BioPharma Group in the 4th quarter worth approximately $106,000. Quadrature Capital Ltd purchased a new position in shares of Mereo BioPharma Group in the 4th quarter worth approximately $111,000. EcoR1 Capital LLC purchased a new position in shares of Mereo BioPharma Group in the 4th quarter worth approximately $3,274,000. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Mereo BioPharma Group during the fourth quarter worth $533,000. 62.83% of the stock is owned by institutional investors.

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.