Analysts Set Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Target Price at $3.25

Shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) have been given a consensus rating of “Hold” by the eight research firms that are covering the firm, Marketbeat Ratings reports. Two 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 price objective among brokerages that have issued a report on the stock in the last year is $1.6667.

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

Hedge Funds Weigh In On Mereo BioPharma Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. 683 Capital Management LLC grew its stake in shares of 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 worth $6,261,000 after acquiring an additional 10,150,000 shares during the period. EcoR1 Capital LLC lifted 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 purchasing an additional 5,512,389 shares during the period. Bank of America Corp DE lifted its position in Mereo BioPharma Group by 32,048.5% during 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 purchasing an additional 8,169,795 shares during the period. Defilade Capital Management L.P. purchased a new stake in Mereo BioPharma Group in the first quarter worth approximately $2,494,000. Finally, Schonfeld Strategic Advisors LLC boosted its holdings in Mereo BioPharma Group by 251.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 6,090,381 shares of the company’s stock worth $2,538,000 after purchasing an additional 4,357,657 shares during the last quarter. Institutional investors own 62.83% of the company’s stock.

Mereo BioPharma Group Stock Performance

Shares of Mereo BioPharma Group stock opened at $0.28 on Friday. The company has a 50-day simple moving average of $0.31 and a two-hundred day simple moving average of $0.33. The stock has a market capitalization of $44.97 million, a PE ratio of -7.04 and a beta of 0.36. 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 posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). As a group, equities research analysts forecast that Mereo BioPharma Group will post -0.04 EPS for the current fiscal year.

About Mereo BioPharma Group

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.