Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Receives $3.25 Consensus Target Price from Brokerages

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) has earned an average recommendation of “Hold” from the eight analysts that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $3.25.

A number of research analysts recently issued reports on MREO shares. JPMorgan Chase & Co. restated a “neutral” rating on shares of Mereo BioPharma Group in a research report on Monday, March 23rd. Lifesci Capital upgraded shares of Mereo BioPharma Group to a “hold” rating in a research report on Thursday, March 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Mereo BioPharma Group in a research report on Thursday, January 22nd. BTIG Research restated a “buy” rating and set a $1.00 target price on shares of Mereo BioPharma Group in a research report on Tuesday, May 12th. Finally, Zacks Research downgraded shares of Mereo BioPharma Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th.

Mereo BioPharma Group Price Performance

NASDAQ MREO opened at $0.27 on Friday. The company has a market capitalization of $43.43 million, a PE ratio of -5.44 and a beta of 0.24. The company has a fifty day moving average of $0.31 and a 200 day moving average of $0.83. Mereo BioPharma Group has a 1 year low of $0.20 and a 1 year high of $3.05.

Mereo BioPharma Group (NASDAQ:MREO) last posted its earnings results on Tuesday, May 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03).

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Bank of America Corp DE raised its position in shares of Mereo BioPharma Group by 32,048.5% in the first quarter. Bank of America Corp DE now owns 8,195,287 shares of the company’s stock worth $2,704,000 after acquiring an additional 8,169,795 shares during the period. EcoR1 Capital LLC raised its position in shares of Mereo BioPharma Group by 70.2% in the first quarter. EcoR1 Capital LLC now owns 13,368,855 shares of the company’s stock worth $4,412,000 after acquiring an additional 5,512,389 shares during the period. Forefront Analytics LLC raised its position in shares of Mereo BioPharma Group by 302.2% in the first quarter. Forefront Analytics LLC now owns 127,778 shares of the company’s stock worth $42,000 after acquiring an additional 96,010 shares during the period. Virtus Investment Advisers LLC raised its position in shares of Mereo BioPharma Group by 199.5% in the fourth quarter. Virtus Investment Advisers LLC now owns 122,595 shares of the company’s stock worth $51,000 after acquiring an additional 81,665 shares during the period. Finally, Sphera Funds Management LTD. acquired a new position in shares of Mereo BioPharma Group in the fourth quarter worth about $106,000. Institutional investors and hedge funds own 62.83% of the company’s stock.

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.