FY2024 EPS Estimates for Mereo BioPharma Group plc (NASDAQ:MREO) Boosted by Cantor Fitzgerald

Mereo BioPharma Group plc (NASDAQ:MREO) – Investment analysts at Cantor Fitzgerald upped their FY2024 EPS estimates for Mereo BioPharma Group in a note issued to investors on Wednesday, April 17th. Cantor Fitzgerald analyst K. Kluska now expects that the company will earn ($0.05) per share for the year, up from their prior forecast of ($0.06). Cantor Fitzgerald currently has a “Overweight” rating and a $7.00 target price on the stock. The consensus estimate for Mereo BioPharma Group’s current full-year earnings is $0.03 per share.

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $6.00 target price on shares of Mereo BioPharma Group in a research report on Wednesday, April 10th.

Mereo BioPharma Group Price Performance

Shares of NASDAQ MREO opened at $2.78 on Monday. The firm has a 50-day simple moving average of $3.28 and a 200-day simple moving average of $2.73. The company has a current ratio of 6.72, a quick ratio of 6.72 and a debt-to-equity ratio of 0.09. Mereo BioPharma Group has a 52 week low of $0.92 and a 52 week high of $4.36.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Golden State Equity Partners boosted its stake in Mereo BioPharma Group by 41.0% during the fourth quarter. Golden State Equity Partners now owns 20,300 shares of the company’s stock worth $47,000 after buying an additional 5,900 shares during the period. Clear Harbor Asset Management LLC boosted its stake in Mereo BioPharma Group by 12.3% during the third quarter. Clear Harbor Asset Management LLC now owns 63,754 shares of the company’s stock worth $82,000 after buying an additional 7,000 shares during the period. Formidable Asset Management LLC purchased a new position in Mereo BioPharma Group during the third quarter worth about $428,000. NEOS Investment Management LLC boosted its stake in Mereo BioPharma Group by 751.5% during the fourth quarter. NEOS Investment Management LLC now owns 351,905 shares of the company’s stock worth $813,000 after buying an additional 310,577 shares during the period. Finally, Monaco Asset Management SAM boosted its stake in shares of Mereo BioPharma Group by 13.6% in the fourth quarter. Monaco Asset Management SAM now owns 676,494 shares of the company’s stock valued at $1,563,000 after purchasing an additional 80,765 shares during the period. Hedge funds and other institutional investors own 62.83% of the company’s stock.

About Mereo BioPharma Group

Mereo BioPharma Group plc, a biopharmaceutical company, develops and commercializes therapeutics for the treatment of oncology and rare diseases in the United Kingdom, the United States, and internationally. It develops Etigilimab (MPH-313), an antibody T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial for the treatment of tumors.