Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Stock Has Average Target Price of $1.67 According to Analysts

Shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) have been given a consensus rating of “Hold” by the eight analysts that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $1.67.

Several brokerages recently commented on MREO. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mereo BioPharma Group in a research report on Tuesday, September 29th. BTIG Research reiterated a “buy” rating and issued a $1.00 target price on shares of Mereo BioPharma Group in a research note on Tuesday, August 11th. JPMorgan Chase & Co. downgraded shares of Mereo BioPharma Group from a “neutral” rating to an “underweight” rating in a research report on Wednesday, August 19th. Finally, Needham & Company LLC restated a “buy” rating on shares of Mereo BioPharma Group in a research note on Tuesday, August 11th.

Mereo BioPharma Group Price Performance

Shares of MREO stock opened at $0.28 on Friday. Mereo BioPharma Group has a 1-year low of $0.20 and a 1-year high of $2.37. The stock’s fifty day moving average price is $0.31 and its 200 day moving average price is $0.33. The company has a market cap of $45.19 million, a price-to-earnings ratio of -7.07 and a beta of 0.29.

Mereo BioPharma Group (NASDAQ:MREO) last announced its earnings results on Wednesday, August 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). As a group, equities research analysts anticipate that Mereo BioPharma Group will post -0.04 earnings per share for the current year.

Hedge Funds Weigh In On Mereo BioPharma Group

Hedge funds have recently made changes to their positions in the company. Forefront Analytics LLC raised its stake in Mereo BioPharma Group by 302.2% in the 1st quarter. Forefront Analytics LLC now owns 127,778 shares of the company’s stock worth $42,000 after acquiring an additional 96,010 shares during the last quarter. Defilade Capital Management L.P. purchased a new stake in Mereo BioPharma Group during the 1st quarter valued at about $2,494,000. Bank of America Corp DE grew its stake in Mereo BioPharma Group by 32,048.5% during the 1st quarter. Bank of America Corp DE now owns 8,195,287 shares of the company’s stock valued at $2,704,000 after purchasing an additional 8,169,795 shares during the last quarter. Finally, EcoR1 Capital LLC increased its holdings in shares of Mereo BioPharma Group by 70.2% in the first quarter. EcoR1 Capital LLC now owns 13,368,855 shares of the company’s stock valued at $4,412,000 after purchasing an additional 5,512,389 shares during the period. 62.83% of the stock is owned by institutional investors and hedge funds.

Mereo BioPharma Group Company Profile

Mereo BioPharma Group plc is a clinical-stage biopharmaceutical company focused on developing therapies for rare diseases and oncology. The company’s research programs are intended to address conditions with significant unmet medical needs, using biologic and small-molecule drug candidates.

Mereo’s lead program is setrusumab, an investigational monoclonal antibody designed to inhibit sclerostin and stimulate bone formation. The therapy is being developed for osteogenesis imperfecta, a rare genetic disorder characterized by fragile bones, through a collaboration with Ultragenyx Pharmaceutical.