Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Receives Consensus Rating of “Hold” from Analysts

Shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) have received a consensus rating of “Hold” from the eight brokerages that are currently covering the company, MarketBeat.com reports. Two investment 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 covered the stock in the last year is $3.25.

A number of equities analysts have issued reports on the stock. Zacks Research lowered shares of Mereo BioPharma Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mereo BioPharma Group in a research note on Thursday, January 22nd. Lifesci Capital upgraded Mereo BioPharma Group to a “hold” rating in a research report on Thursday, March 19th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Mereo BioPharma Group in a research report on Monday, March 23rd. Finally, BTIG Research restated a “buy” rating and issued a $1.00 price objective on shares of Mereo BioPharma Group in a report on Tuesday, May 12th.

Mereo BioPharma Group Stock Up 0.3%

MREO opened at $0.24 on Friday. Mereo BioPharma Group has a 52-week low of $0.20 and a 52-week high of $3.05. The company has a market cap of $37.99 million, a P/E ratio of -4.76 and a beta of 0.24. The firm’s 50-day moving average price is $0.32 and its 200-day moving average price is $0.85.

Mereo BioPharma Group (NASDAQ:MREO) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03).

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MREO. 683 Capital Management LLC raised its holdings in shares of Mereo BioPharma Group by 208.2% during the 4th quarter. 683 Capital Management LLC now owns 15,025,000 shares of the company’s stock worth $6,261,000 after acquiring an additional 10,150,000 shares during the period. Bank of America Corp DE lifted its holdings in Mereo BioPharma Group by 32,048.5% during the 1st quarter. Bank of America Corp DE now owns 8,195,287 shares of the company’s stock worth $2,704,000 after buying an additional 8,169,795 shares in the last quarter. EcoR1 Capital LLC purchased a new stake in shares of Mereo BioPharma Group during the fourth quarter worth approximately $3,274,000. Schonfeld Strategic Advisors LLC increased its stake in shares of Mereo BioPharma Group by 251.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 6,090,381 shares of the company’s stock worth $2,538,000 after buying an additional 4,357,657 shares during the period. Finally, Aberdeen Group plc increased its stake in shares of Mereo BioPharma Group by 82.9% during the third quarter. Aberdeen Group plc now owns 5,538,699 shares of the company’s stock worth $11,410,000 after buying an additional 2,509,827 shares during the period. Hedge funds and other institutional investors own 62.83% of the company’s stock.

Mereo BioPharma Group Company Profile

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.