Mereo BioPharma Group plc – Sponsored ADR (MREO) – What Are Analysts Thinking About This Stock?

Shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) have been given an average recommendation of “Hold” by the eight research firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $1.67.

Several equities analysts have weighed in on MREO shares. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Mereo BioPharma Group in a research report on Wednesday, August 19th. BTIG Research reiterated a “buy” rating and issued a $1.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, August 11th. Needham & Company LLC reiterated a “buy” rating on shares of Mereo BioPharma Group in a research report on Tuesday, August 11th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Mereo BioPharma Group in a research report on Tuesday, September 29th.

Mereo BioPharma Group Price Performance

MREO opened at $0.30 on Monday. The business has a fifty day moving average price of $0.31 and a 200 day moving average price of $0.31. Mereo BioPharma Group has a 12 month low of $0.20 and a 12 month high of $2.37.

Mereo BioPharma Group (NASDAQ:MREO) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). Research analysts anticipate that Mereo BioPharma Group will post -0.04 EPS for the current year.

Institutional Trading of Mereo BioPharma Group

Hedge funds have recently modified their holdings of the stock. Defilade Capital Management L.P. bought a new stake in shares of Mereo BioPharma Group during the first quarter worth approximately $2,494,000. EcoR1 Capital LLC boosted its position in shares of Mereo BioPharma Group by 70.2% in the 1st quarter. EcoR1 Capital LLC now owns 13,368,855 shares of the company’s stock worth $4,412,000 after purchasing an additional 5,512,389 shares during the last quarter. 683 Capital Management LLC boosted its position in shares of Mereo BioPharma Group by 208.2% in the 4th quarter. 683 Capital Management LLC now owns 15,025,000 shares of the company’s stock worth $6,261,000 after purchasing an additional 10,150,000 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Mereo BioPharma Group by 32,048.5% during the first quarter. Bank of America Corp DE now owns 8,195,287 shares of the company’s stock worth $2,704,000 after purchasing an additional 8,169,795 shares during the period. Finally, Forefront Analytics LLC grew its stake 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 during the period. 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 medicines for rare diseases and other serious conditions with limited treatment options. The company’s activities include drug discovery, clinical development and commercialization through partnerships with larger pharmaceutical companies.

Mereo’s pipeline has included setrusumab, an investigational anti-sclerostin antibody being developed for osteogenesis imperfecta, a rare genetic disorder characterized by fragile bones.