Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Receives $3.25 Consensus Target Price from Analysts

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) has earned a consensus rating of “Hold” from the eight ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $3.25.

Several equities research analysts have recently weighed in on MREO shares. BTIG Research reissued a “buy” rating and set a $1.00 target price on shares of Mereo BioPharma Group in a research report on Tuesday, May 12th. Zacks Research raised Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mereo BioPharma Group in a research note on Thursday, July 2nd.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MREO. Goldman Sachs Group Inc. raised its stake in Mereo BioPharma Group by 0.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company’s stock worth $4,783,000 after acquiring an additional 6,068 shares in the last quarter. Woodline Partners LP boosted its stake in Mereo BioPharma Group by 53.2% in the first quarter. Woodline Partners LP now owns 947,986 shares of the company’s stock valued at $2,133,000 after acquiring an additional 329,202 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Mereo BioPharma Group by 62.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,569,100 shares of the company’s stock valued at $3,530,000 after acquiring an additional 604,200 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Mereo BioPharma Group during the second quarter worth about $188,000. Finally, Paloma Partners Management Co purchased a new position in shares of Mereo BioPharma Group during the second quarter worth about $804,000. 62.83% of the stock is owned by hedge funds and other institutional investors.

Mereo BioPharma Group Price Performance

NASDAQ:MREO opened at $0.34 on Wednesday. Mereo BioPharma Group has a 12 month low of $0.20 and a 12 month high of $2.37. The firm has a market capitalization of $54.70 million, a PE ratio of -6.85 and a beta of 0.35. The business’s fifty day moving average price is $0.32 and its 200 day moving average price is $0.35.

Mereo BioPharma Group (NASDAQ:MREO) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). As a group, equities analysts anticipate that Mereo BioPharma Group will post -0.02 EPS for the current year.

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.