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

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) has received an average rating of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat Ratings 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 analysts that have covered the stock in the last year is $1.67.

Several analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating on shares of Mereo BioPharma Group in a report on Tuesday, August 11th. BTIG Research reissued a “buy” rating and set a $1.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, August 11th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Mereo BioPharma Group in a research report on Wednesday, August 19th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Mereo BioPharma Group in a research report on Tuesday, September 29th.

Hedge Funds Weigh In On Mereo BioPharma Group

Several institutional investors and hedge funds have recently modified their holdings of MREO. Forefront Analytics LLC grew its holdings in 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 acquiring an additional 96,010 shares during the period. EcoR1 Capital LLC raised its position 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 valued at $4,412,000 after acquiring an additional 5,512,389 shares in the last quarter. Defilade Capital Management L.P. purchased a new position in Mereo BioPharma Group during the first quarter valued at approximately $2,494,000. Bank of America Corp DE lifted its holdings 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 valued at $2,704,000 after acquiring an additional 8,169,795 shares during the period. Finally, 683 Capital Management LLC lifted its holdings in Mereo BioPharma Group by 208.2% in 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 period. Institutional investors and hedge funds own 62.83% of the company’s stock.

Mereo BioPharma Group Price Performance

Shares of NASDAQ MREO opened at $0.30 on Monday. The business’s 50 day moving average price is $0.31 and its 200 day moving average price is $0.31. The firm has a market cap of $48.39 million, a P/E ratio of -7.57 and a beta of 0.20. Mereo BioPharma Group has a 52 week low of $0.20 and a 52 week high of $2.37.

Mereo BioPharma Group (NASDAQ:MREO) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). As a group, research analysts expect that Mereo BioPharma Group will post -0.04 earnings per share for the current 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 drug discovery, clinical development and commercialization through partnerships with larger pharmaceutical companies.

Mereo’s pipeline has included setrusumab, an investigational anti-sclerostin antibody being developed for osteogenesis imperfecta, a rare genetic disorder characterized by fragile bones.