Mereo BioPharma Group (NASDAQ:MREO) Receives Buy Rating from BTIG Research

Mereo BioPharma Group (NASDAQ:MREO)‘s stock had its “buy” rating reissued by equities researchers at BTIG Research in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $1.00 price target on the stock. BTIG Research’s target price would indicate a potential upside of 60.26% from the company’s current price.

Several other equities research analysts also recently weighed in on MREO. Lifesci Capital downgraded Mereo BioPharma Group from an “outperform” rating to a “hold” rating in a research report on Monday, December 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mereo BioPharma Group in a research report on Monday, December 29th. Robert W. Baird set a $1.00 price target on Mereo BioPharma Group in a report on Monday, December 29th. Jefferies Financial Group downgraded shares of Mereo BioPharma Group from a “buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Finally, Zacks Research raised shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $4.00.

Mereo BioPharma Group Stock Performance

NASDAQ MREO traded down $0.05 during trading hours on Friday, reaching $0.62. The stock had a trading volume of 9,550,424 shares, compared to its average volume of 33,945,281. Mereo BioPharma Group has a 52-week low of $0.20 and a 52-week high of $3.26. The stock has a fifty day moving average of $1.56 and a 200 day moving average of $1.79. The stock has a market cap of $99.30 million, a P/E ratio of -10.38 and a beta of 0.42.

Mereo BioPharma Group (NASDAQ:MREO) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.01) EPS for the quarter. On average, equities research analysts forecast that Mereo BioPharma Group will post -0.03 EPS for the current year.

Hedge Funds Weigh In On Mereo BioPharma Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Marex Group plc acquired a new stake in Mereo BioPharma Group during the second quarter worth $27,000. State of New Jersey Common Pension Fund D purchased a new stake in Mereo BioPharma Group in the 3rd quarter valued at about $32,000. Virtu Financial LLC acquired a new position in Mereo BioPharma Group in the third quarter valued at about $33,000. Significant Wealth Partners LLC boosted its stake in Mereo BioPharma Group by 61.7% during the second quarter. Significant Wealth Partners LLC now owns 22,261 shares of the company’s stock worth $60,000 after buying an additional 8,490 shares during the period. Finally, Squarepoint Ops LLC increased its position in shares of Mereo BioPharma Group by 45.4% during the third quarter. Squarepoint Ops LLC now owns 30,055 shares of the company’s stock valued at $62,000 after acquiring an additional 9,387 shares during the last quarter. 62.83% of the stock is owned by hedge funds and other institutional investors.

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.