Mereo BioPharma Group (NASDAQ:MREO) Releases Quarterly Earnings Results, Hits Estimates

Mereo BioPharma Group (NASDAQ:MREO) issued its earnings results on Monday. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01), Zacks reports. The firm had revenue of $0.80 million during the quarter, compared to the consensus estimate of $4.61 million.

Mereo BioPharma Group Trading Up 5.7%

Shares of NASDAQ:MREO traded up $0.02 on Monday, hitting $0.30. The company had a trading volume of 123,396 shares, compared to its average volume of 4,825,919. Mereo BioPharma Group has a 1-year low of $0.20 and a 1-year high of $2.37. The stock has a market cap of $47.75 million, a price-to-earnings ratio of -7.50 and a beta of 0.29. The stock has a 50 day moving average price of $0.31 and a 200 day moving average price of $0.33.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MREO shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mereo BioPharma Group in a report on Tuesday, September 29th. BTIG Research restated a “buy” rating and issued a $1.00 price objective on shares of Mereo BioPharma Group in a research note on Tuesday, August 11th. JPMorgan Chase & Co. cut Mereo BioPharma Group from a “neutral” rating to an “underweight” rating in a research report on Wednesday, August 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Mereo BioPharma Group in a research report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Mereo BioPharma Group currently has a consensus rating of “Hold” and an average target price of $1.67.

About Mereo BioPharma Group

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.