Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) have earned a consensus recommendation of “Hold” from the eight research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $1.6667.

MREO has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating on shares of Mereo BioPharma Group in a report on Tuesday, August 11th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Mereo BioPharma Group in a research note on Wednesday, August 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mereo BioPharma Group in a report on Thursday, July 2nd. Zacks Research raised Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Finally, BTIG Research restated a “buy” rating and set a $1.00 price target on shares of Mereo BioPharma Group in a report on Tuesday, August 11th.

Mereo BioPharma Group Price Performance

Shares of Mereo BioPharma Group stock opened at $0.25 on Friday. Mereo BioPharma Group has a one year low of $0.20 and a one year high of $2.37. The business’s 50 day simple moving average is $0.31 and its two-hundred day simple moving average is $0.32. The stock has a market capitalization of $40.32 million, a P/E ratio of -6.31 and a beta of 0.36.

Mereo BioPharma Group (NASDAQ:MREO) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). Sell-side analysts expect that Mereo BioPharma Group will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mereo BioPharma Group

Several hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its position in shares of Mereo BioPharma Group by 0.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company’s stock valued at $4,783,000 after buying an additional 6,068 shares during the period. Squarepoint Ops LLC boosted its position in 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 acquiring an additional 9,387 shares in the last quarter. Marex Group plc purchased a new position in shares of Mereo BioPharma Group during the 2nd quarter worth approximately $27,000. Virtu Financial LLC purchased a new position in shares of Mereo BioPharma Group during the 3rd quarter worth approximately $33,000. Finally, Aquatic Capital Management LLC raised its position in shares of Mereo BioPharma Group by 99.5% in the 3rd quarter. Aquatic Capital Management LLC now owns 53,712 shares of the company’s stock worth $111,000 after acquiring an additional 26,782 shares in the last quarter. 62.83% of the stock is owned by hedge funds and other institutional investors.

About Mereo BioPharma Group

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.