Analysts Set Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Price Target at $3.25

Shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) have been assigned an average rating of “Hold” from the eight analysts that are covering the company, MarketBeat.com reports. One research 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 twelve-month price objective among analysts that have covered the stock in the last year is $3.25.

Several research analysts recently commented on MREO shares. Robert W. Baird set a $1.00 price target on Mereo BioPharma Group in a research note on Monday, December 29th. Lifesci Capital raised Mereo BioPharma Group to a “hold” rating in a report on Thursday, March 19th. Jefferies Financial Group lowered Mereo BioPharma Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 30th. BTIG Research reissued a “buy” rating and issued a $1.00 price objective on shares of Mereo BioPharma Group in a report on Friday, January 16th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Mereo BioPharma Group in a report on Monday, December 29th.

Mereo BioPharma Group Stock Performance

NASDAQ:MREO opened at $0.32 on Monday. Mereo BioPharma Group has a one year low of $0.20 and a one year high of $3.05. The business’s 50-day simple moving average is $0.36 and its 200 day simple moving average is $1.07. The stock has a market cap of $51.30 million, a price-to-earnings ratio of -5.36 and a beta of 0.43.

Mereo BioPharma Group (NASDAQ:MREO) last released its quarterly earnings results on Friday, March 20th. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). On average, equities research analysts predict that Mereo BioPharma Group will post -0.01 EPS for the current year.

Institutional Trading of Mereo BioPharma Group

Several hedge funds and other institutional investors have recently bought and sold shares of MREO. Goldman Sachs Group Inc. increased its holdings in Mereo BioPharma Group by 0.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company’s stock valued at $4,783,000 after buying an additional 6,068 shares during the last quarter. Woodline Partners LP increased its holdings in Mereo BioPharma Group by 53.2% in the first quarter. Woodline Partners LP now owns 947,986 shares of the company’s stock valued at $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 holdings in Mereo BioPharma Group by 62.6% in 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 buying an additional 604,200 shares during the last quarter. XTX Topco Ltd bought a new stake in Mereo BioPharma Group in the second quarter valued at about $188,000. Finally, Paloma Partners Management Co bought a new stake in Mereo BioPharma Group in the second quarter valued at about $804,000. 62.83% of the stock is owned by institutional investors.

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.