Mereo BioPharma Group plc (NASDAQ:MREO) Given Average Recommendation of “Buy” by Brokerages

Mereo BioPharma Group plc (NASDAQ:MREO) has received an average rating of “Buy” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $7.71.

MREO has been the topic of several analyst reports. Lifesci Capital initiated coverage on Mereo BioPharma Group in a research note on Tuesday, December 24th. They issued an “outperform” rating and a $10.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research note on Tuesday, March 18th. JPMorgan Chase & Co. assumed coverage on Mereo BioPharma Group in a report on Thursday, March 27th. They set an “overweight” rating and a $7.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a report on Wednesday.

Institutional Trading of Mereo BioPharma Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Graham Capital Management L.P. grew its holdings in Mereo BioPharma Group by 74.7% during the 4th quarter. Graham Capital Management L.P. now owns 22,189 shares of the company’s stock worth $78,000 after acquiring an additional 9,490 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Mereo BioPharma Group by 109.5% during the first quarter. GAMMA Investing LLC now owns 18,855 shares of the company’s stock worth $42,000 after purchasing an additional 9,854 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Mereo BioPharma Group during the fourth quarter valued at approximately $37,000. Jump Financial LLC acquired a new stake in shares of Mereo BioPharma Group in the fourth quarter valued at approximately $39,000. Finally, Golden State Equity Partners increased its holdings in shares of Mereo BioPharma Group by 247.7% in the fourth quarter. Golden State Equity Partners now owns 22,600 shares of the company’s stock valued at $79,000 after purchasing an additional 16,100 shares in the last quarter. 62.83% of the stock is currently owned by institutional investors and hedge funds.

Mereo BioPharma Group Price Performance

Shares of MREO stock opened at $1.90 on Thursday. Mereo BioPharma Group has a one year low of $1.58 and a one year high of $5.02. The stock has a fifty day moving average price of $2.53 and a 200 day moving average price of $3.33. The stock has a market cap of $294.78 million, a P/E ratio of -31.67 and a beta of 0.71.

Mereo BioPharma Group (NASDAQ:MREO) last released its quarterly earnings data on Wednesday, March 26th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Equities research analysts anticipate that Mereo BioPharma Group will post -0.03 EPS for the current year.

Mereo BioPharma Group Company Profile

Mereo BioPharma Group plc, a biopharmaceutical company, develops and commercializes therapeutics for the treatment of oncology and rare diseases in the United Kingdom, the United States, and internationally. It develops Etigilimab (MPH-313), an antibody T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial for the treatment of tumors.