Brokerages Set Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) PT at $3.25

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) has been assigned a consensus rating of “Hold” from the eight brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $3.25.

MREO has been the topic of several research analyst reports. Zacks Research raised shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. BTIG Research reaffirmed a “buy” rating and issued a $1.00 price target on shares of Mereo BioPharma Group in a report on Tuesday, May 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mereo BioPharma Group in a research note on Thursday, July 2nd.

Hedge Funds Weigh In On Mereo BioPharma Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 683 Capital Management LLC lifted its position in Mereo BioPharma Group by 208.2% during the 4th quarter. 683 Capital Management LLC now owns 15,025,000 shares of the company’s stock worth $6,261,000 after acquiring an additional 10,150,000 shares during the period. EcoR1 Capital LLC increased its holdings 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 valued at $4,412,000 after purchasing an additional 5,512,389 shares during the period. Bank of America Corp DE increased its holdings 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 valued at $2,704,000 after purchasing an additional 8,169,795 shares during the period. Defilade Capital Management L.P. purchased a new position in shares of Mereo BioPharma Group in the first quarter worth about $2,494,000. Finally, Schonfeld Strategic Advisors LLC raised its stake in shares of Mereo BioPharma Group by 251.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 6,090,381 shares of the company’s stock worth $2,538,000 after purchasing an additional 4,357,657 shares during the last quarter. Hedge funds and other institutional investors own 62.83% of the company’s stock.

Mereo BioPharma Group Stock Performance

Shares of NASDAQ MREO opened at $0.34 on Wednesday. The company has a market cap of $54.70 million, a PE ratio of -6.85 and a beta of 0.35. The business has a 50-day simple moving average of $0.32 and a two-hundred day simple moving average of $0.35. Mereo BioPharma Group has a fifty-two week low of $0.20 and a fifty-two week high of $2.37.

Mereo BioPharma Group (NASDAQ:MREO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). On average, sell-side analysts predict that Mereo BioPharma Group will post -0.02 earnings per share for the current fiscal year.

Mereo BioPharma Group Company Profile

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.