Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Receives $1.67 Consensus Target Price from Brokerages

Shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) have received a consensus recommendation of “Hold” from the eight analysts that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $1.6667.

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Mereo BioPharma Group in a research note on Wednesday, August 19th. Needham & Company LLC restated a “buy” rating on shares of Mereo BioPharma Group in a report on Tuesday, August 11th. Zacks Research upgraded shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mereo BioPharma Group in a report on Thursday, July 2nd. Finally, BTIG Research reiterated a “buy” rating and issued a $1.00 price target on shares of Mereo BioPharma Group in a research report on Tuesday, August 11th.

Hedge Funds Weigh In On Mereo BioPharma Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Defilade Capital Management L.P. purchased a new stake in Mereo BioPharma Group during the 1st quarter valued at $2,494,000. EcoR1 Capital LLC boosted its stake in Mereo BioPharma Group by 70.2% during the first quarter. EcoR1 Capital LLC now owns 13,368,855 shares of the company’s stock worth $4,412,000 after buying an additional 5,512,389 shares during the period. 683 Capital Management LLC increased its position in Mereo BioPharma Group by 208.2% during the fourth quarter. 683 Capital Management LLC now owns 15,025,000 shares of the company’s stock valued at $6,261,000 after acquiring an additional 10,150,000 shares during the last quarter. Bank of America Corp DE raised its stake in shares of 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 valued at $2,704,000 after acquiring an additional 8,169,795 shares during the period. Finally, Monaco Asset Management SAM raised its stake in shares of Mereo BioPharma Group by 67.6% in the fourth quarter. Monaco Asset Management SAM now owns 1,585,214 shares of the company’s stock valued at $661,000 after acquiring an additional 639,299 shares during the period. Hedge funds and other institutional investors own 62.83% of the company’s stock.

Mereo BioPharma Group Trading Up 7.6%

Shares of MREO stock opened at $0.34 on Thursday. The stock’s 50-day moving average price is $0.29 and its 200-day moving average price is $0.31. Mereo BioPharma Group has a 12-month low of $0.20 and a 12-month high of $2.37. The stock has a market capitalization of $54.34 million, a price-to-earnings ratio of -8.51 and a beta of 0.32.

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

Mereo BioPharma Group Company Profile

Mereo BioPharma Group plc is a clinical-stage biopharmaceutical company focused on developing medicines for rare diseases and other serious conditions with limited treatment options. The company’s activities include the discovery, development and potential commercialization of targeted therapies, often through collaborations and licensing arrangements.

Mereo’s lead program is setrusumab, an investigational monoclonal antibody designed to inhibit sclerostin and stimulate bone formation.