Mereo BioPharma Group plc – Sponsored ADR (MREO) – What Are Analysts Saying About This Stock?

Shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) have earned an average recommendation of “Hold” from the eight research firms that are currently covering the firm, MarketBeat.com reports. Two equities research 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 brokerages that have updated their coverage on the stock in the last year is $1.67.

Several research firms have commented on MREO. JPMorgan Chase & Co. downgraded shares of Mereo BioPharma Group from a “neutral” rating to an “underweight” rating in a report on Wednesday, August 19th. BTIG Research reaffirmed a “buy” rating and set a $1.00 price objective on shares of Mereo BioPharma Group in a report on Tuesday. Weiss Ratings restated a “sell (e+)” rating on shares of Mereo BioPharma Group in a research report on Tuesday, September 29th. Finally, Needham & Company LLC reissued 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 opened at $0.30 on Friday. The business’s 50 day moving average is $0.31 and its 200 day moving average is $0.32. Mereo BioPharma Group has a 12-month low of $0.20 and a 12-month high of $2.37.

Mereo BioPharma Group (NASDAQ:MREO) last announced its quarterly earnings data on Monday, November 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). The company had revenue of $0.80 million for the quarter, compared to analysts’ expectations of $0.02 million. As a group, sell-side analysts anticipate that Mereo BioPharma Group will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mereo BioPharma Group

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