Mereo BioPharma Group plc (NASDAQ:MREO) Receives $7.71 Consensus PT from Analysts

Shares of Mereo BioPharma Group plc (NASDAQ:MREO) have earned a consensus recommendation of “Buy” from the eight research firms that are presently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $7.71.

A number of brokerages recently weighed in on MREO. Cantor Fitzgerald restated an “overweight” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, March 18th. JPMorgan Chase & Co. started coverage on Mereo BioPharma Group in a research note on Thursday, March 27th. They issued an “overweight” rating and a $7.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a report on Wednesday, April 9th. Finally, Lifesci Capital started coverage on shares of Mereo BioPharma Group in a report on Tuesday, December 24th. They issued an “outperform” rating and a $10.00 target price for the company.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MREO. State Street Corp acquired a new stake in shares of Mereo BioPharma Group during the 3rd quarter valued at $195,000. Sheets Smith Investment Management acquired a new stake in Mereo BioPharma Group during the fourth quarter valued at $59,000. PFG Investments LLC grew its stake in Mereo BioPharma Group by 132.0% in the fourth quarter. PFG Investments LLC now owns 39,433 shares of the company’s stock valued at $138,000 after purchasing an additional 22,433 shares in the last quarter. HealthInvest Partners AB increased its position in Mereo BioPharma Group by 95.0% in the 4th quarter. HealthInvest Partners AB now owns 390,000 shares of the company’s stock worth $1,373,000 after purchasing an additional 190,000 shares during the last quarter. Finally, Avanza Fonder AB purchased a new stake in shares of Mereo BioPharma Group during the 4th quarter worth about $69,000. Institutional investors and hedge funds own 62.83% of the company’s stock.

Mereo BioPharma Group Stock Performance

MREO opened at $1.90 on Thursday. The company has a market capitalization of $294.78 million, a PE ratio of -31.67 and a beta of 0.71. The stock’s fifty day moving average is $2.46 and its 200-day moving average is $3.28. Mereo BioPharma Group has a one year low of $1.58 and a one year high of $5.02.

Mereo BioPharma Group (NASDAQ:MREO) last issued its quarterly earnings results on Wednesday, March 26th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). On average, equities research analysts forecast that Mereo BioPharma Group will post -0.03 EPS for the current fiscal year.

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.