Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Given Average Rating of “Hold” by Brokerages

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) has earned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $3.25.

A number of equities analysts have issued reports on MREO shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Mereo BioPharma Group in a research note on Monday, March 23rd. BTIG Research reaffirmed a “buy” rating and issued a $1.00 price objective on shares of Mereo BioPharma Group in a research note on Tuesday, May 12th. Lifesci Capital raised shares of Mereo BioPharma Group to a “hold” rating in a research note on Thursday, March 19th. Finally, Zacks Research raised shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th.

Mereo BioPharma Group Stock Performance

Shares of MREO stock opened at $0.30 on Tuesday. Mereo BioPharma Group has a 52-week low of $0.20 and a 52-week high of $3.05. The stock has a market cap of $47.25 million, a PE ratio of -5.92 and a beta of 0.33. The firm’s 50 day moving average price is $0.30 and its two-hundred day moving average price is $0.65.

Mereo BioPharma Group (NASDAQ:MREO) last announced its quarterly earnings data 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). As a group, sell-side analysts predict that Mereo BioPharma Group will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mereo BioPharma Group

A number of hedge funds and other institutional investors have recently made changes to their positions in MREO. Marex Group plc bought a new position in shares of Mereo BioPharma Group during the second quarter worth $27,000. State of New Jersey Common Pension Fund D bought a new position in shares of Mereo BioPharma Group during the third quarter worth $32,000. Virtu Financial LLC bought a new position in shares of Mereo BioPharma Group during the third quarter worth $33,000. Forefront Analytics LLC boosted its position in shares of Mereo BioPharma Group by 302.2% during the first quarter. Forefront Analytics LLC now owns 127,778 shares of the company’s stock worth $42,000 after purchasing an additional 96,010 shares in the last quarter. Finally, Graham Capital Management L.P. bought a new position in shares of Mereo BioPharma Group during the fourth quarter worth $48,000. 62.83% of the stock is owned by institutional investors.

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.