Mereo BioPharma Group (NASDAQ:MREO) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Mereo BioPharma Group (NASDAQ:MREO) announced its quarterly earnings data on Wednesday. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03), Zacks reports.

Mereo BioPharma Group Stock Performance

Shares of MREO traded down $0.08 on Friday, reaching $2.34. The company’s stock had a trading volume of 134,817 shares, compared to its average volume of 1,008,209. The stock’s 50 day simple moving average is $2.73 and its two-hundred day simple moving average is $3.51. Mereo BioPharma Group has a 12-month low of $2.22 and a 12-month high of $5.02.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, March 18th. Needham & Company LLC reiterated a “buy” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a report on Wednesday. Lifesci Capital started coverage on shares of Mereo BioPharma Group in a research note on Tuesday, December 24th. They set an “outperform” rating and a $10.00 target price on the stock. JPMorgan Chase & Co. started coverage on shares of Mereo BioPharma Group in a report on Thursday. They set an “overweight” rating and a $7.00 price target on the stock. Finally, Jefferies Financial Group began coverage on shares of Mereo BioPharma Group in a report on Friday, December 6th. They set a “buy” rating and a $7.00 price objective for the company. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Mereo BioPharma Group has a consensus rating of “Buy” and a consensus price target of $7.71.

About Mereo BioPharma Group

Mereo BioPharma Group plc, a biopharmaceutical company, develops and commercializes therapeutics for the treatment of oncology and rare diseases in the United Kingdom, the United States, and internationally. It develops Etigilimab (MPH-313), an antibody T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial for the treatment of tumors.