Mereo BioPharma Group (NASDAQ:MREO) Issues Earnings Results

Mereo BioPharma Group (NASDAQ:MREO) released its quarterly earnings results on Monday. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01), Zacks reports. The firm had revenue of $0.80 million for the quarter, compared to analysts’ expectations of $0.02 million.

Mereo BioPharma Group Stock Performance

Shares of NASDAQ:MREO traded up $0.01 during midday trading on Wednesday, reaching $0.31. 284,777 shares of the company’s stock traded hands, compared to its average volume of 4,798,230. The company has a market cap of $49.18 million, a P/E ratio of -7.70 and a beta of 0.29. The company has a fifty day simple moving average of $0.31 and a two-hundred day simple moving average of $0.33. Mereo BioPharma Group has a 1 year low of $0.20 and a 1 year high of $2.37.

Analyst Ratings Changes

A number of analysts have commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mereo BioPharma Group in a research report on Tuesday, September 29th. BTIG Research reissued a “buy” rating and issued a $1.00 price objective on shares of Mereo BioPharma Group in a report on Tuesday. JPMorgan Chase & Co. cut Mereo BioPharma Group from a “neutral” rating to an “underweight” rating in a research note on Wednesday, August 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Mereo BioPharma Group in a report on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Mereo BioPharma Group has an average rating of “Hold” and a consensus price target of $1.67.

Mereo BioPharma Group Company Profile

Mereo BioPharma Group plc is a clinical-stage biopharmaceutical company focused on developing therapies for rare diseases and oncology. The company’s research programs are intended to address conditions with significant unmet medical needs, using biologic and small-molecule drug candidates. Mereo’s lead program is setrusumab, an investigational monoclonal antibody designed to inhibit sclerostin and stimulate bone formation. The therapy is being developed for osteogenesis imperfecta, a rare genetic disorder characterized by fragile bones, through a collaboration with Ultragenyx Pharmaceutical.