Mereo BioPharma Group (NASDAQ:MREO) Earns Buy Rating from BTIG Research

Mereo BioPharma Group (NASDAQ:MREO)‘s stock had its “buy” rating reissued by investment analysts at BTIG Research in a report released on Tuesday,Benzinga reports. They currently have a $1.00 price target on the stock. BTIG Research’s price objective would suggest a potential upside of 227.33% from the company’s current price.

Several other equities research analysts have also commented on MREO. Weiss Ratings restated a “sell (e+)” rating on shares of Mereo BioPharma Group in a research report on Thursday, July 2nd. Zacks Research upgraded Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Mereo BioPharma Group presently has an average rating of “Hold” and a consensus target price of $3.25.

Mereo BioPharma Group Stock Performance

Mereo BioPharma Group stock opened at $0.31 on Tuesday. The firm has a market cap of $48.76 million, a price-to-earnings ratio of -6.11 and a beta of 0.36. Mereo BioPharma Group has a 52-week low of $0.20 and a 52-week high of $2.37. The firm has a 50 day moving average price of $0.31 and a two-hundred day moving average price of $0.34.

Mereo BioPharma Group (NASDAQ:MREO) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). As a group, equities research analysts predict that Mereo BioPharma Group will post -0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its stake in Mereo BioPharma Group by 0.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company’s stock valued at $4,783,000 after acquiring an additional 6,068 shares in the last quarter. Woodline Partners LP boosted its stake in shares of Mereo BioPharma Group by 53.2% in the 1st quarter. Woodline Partners LP now owns 947,986 shares of the company’s stock worth $2,133,000 after buying an additional 329,202 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Mereo BioPharma Group by 62.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,569,100 shares of the company’s stock valued at $3,530,000 after acquiring an additional 604,200 shares during the last quarter. XTX Topco Ltd purchased a new position in Mereo BioPharma Group in the second quarter worth $188,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Mereo BioPharma Group during the 2nd quarter valued at $804,000. Institutional investors 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.