Mereo BioPharma Group (NASDAQ:MREO) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Mereo BioPharma Group (NASDAQ:MREO) from a strong sell rating to a hold rating in a report published on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on MREO. BTIG Research reaffirmed a “buy” rating and issued a $1.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, May 12th. Lifesci Capital raised Mereo BioPharma Group to a “hold” rating in a report on Thursday, March 19th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Mereo BioPharma Group in a report on Monday, March 23rd. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $3.25.

Mereo BioPharma Group Price Performance

Shares of NASDAQ:MREO opened at $0.31 on Wednesday. The company has a market capitalization of $49.77 million, a P/E ratio of -6.24 and a beta of 0.33. Mereo BioPharma Group has a 1 year low of $0.20 and a 1 year high of $3.05. The business’s 50 day simple moving average is $0.30 and its 200 day simple moving average is $0.67.

Mereo BioPharma Group (NASDAQ:MREO) last issued 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). On average, sell-side analysts anticipate that Mereo BioPharma Group will post -0.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Mereo BioPharma Group

Large investors have recently modified their holdings of the business. Marex Group plc acquired a new stake in shares of Mereo BioPharma Group in the 2nd quarter valued at $27,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of Mereo BioPharma Group during the 3rd quarter valued at $32,000. Virtu Financial LLC acquired a new stake in shares of Mereo BioPharma Group during the 3rd quarter valued at $33,000. Squarepoint Ops LLC boosted its holdings in shares of 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. Finally, Forefront Analytics LLC boosted its holdings in shares of Mereo BioPharma Group by 73.4% during the 3rd quarter. Forefront Analytics LLC now owns 33,180 shares of the company’s stock valued at $68,000 after acquiring an additional 14,042 shares in the last quarter. Institutional investors and hedge funds own 62.83% of the company’s stock.

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.