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

Shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) have been given a consensus rating of “Hold” by the eight ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $3.25.

Several equities research analysts have recently issued reports on MREO shares. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Mereo BioPharma Group in a research report on Monday, March 23rd. Zacks Research upgraded shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Lifesci Capital raised shares of Mereo BioPharma Group to a “hold” rating in a research report on Thursday, March 19th. BTIG Research reiterated a “buy” rating and issued a $1.00 price target on shares of Mereo BioPharma Group in a report on Tuesday, May 12th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Mereo BioPharma Group in a research report on Thursday, July 2nd.

Institutional Investors Weigh In On Mereo BioPharma Group

Hedge funds have recently modified their holdings of the stock. Marex Group plc acquired a new position in Mereo BioPharma Group during the 2nd quarter worth approximately $27,000. Virtu Financial LLC acquired a new position in shares of Mereo BioPharma Group during the third quarter worth $33,000. Squarepoint Ops LLC lifted its position in shares of Mereo BioPharma Group by 45.4% during the third quarter. Squarepoint Ops LLC now owns 30,055 shares of the company’s stock worth $62,000 after purchasing an additional 9,387 shares in the last quarter. Forefront Analytics LLC boosted its stake in shares of Mereo BioPharma Group by 73.4% in the third quarter. Forefront Analytics LLC now owns 33,180 shares of the company’s stock valued at $68,000 after purchasing an additional 14,042 shares during the period. Finally, Aquatic Capital Management LLC boosted its stake in shares of Mereo BioPharma Group by 99.5% in the third quarter. Aquatic Capital Management LLC now owns 53,712 shares of the company’s stock valued at $111,000 after purchasing an additional 26,782 shares during the period. 62.83% of the stock is currently owned by hedge funds and other institutional investors.

Mereo BioPharma Group Stock Performance

Shares of NASDAQ:MREO opened at $0.32 on Friday. Mereo BioPharma Group has a 1 year low of $0.20 and a 1 year high of $3.05. The stock has a market capitalization of $50.44 million, a P/E ratio of -6.32 and a beta of 0.35. The stock has a 50-day simple moving average of $0.30 and a 200-day simple moving average of $0.44.

Mereo BioPharma Group (NASDAQ:MREO) last posted its 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). Analysts predict that Mereo BioPharma Group will post -0.02 earnings per share 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.