Mereo BioPharma Group’s (MREO) “Buy” Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of Mereo BioPharma Group (NASDAQ:MREO) in a research report released on Friday morning,Benzinga reports. The brokerage currently has a $1.00 price objective on the stock.

Several other equities research analysts have also weighed in on the company. Jefferies Financial Group lowered Mereo BioPharma Group from a “buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mereo BioPharma Group in a report on Monday, December 29th. Wall Street Zen lowered shares of Mereo BioPharma Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Needham & Company LLC decreased their target price on shares of Mereo BioPharma Group from $5.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, January 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mereo BioPharma Group in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $4.00.

Mereo BioPharma Group Stock Down 4.5%

Shares of NASDAQ MREO opened at $0.64 on Friday. The firm’s 50-day moving average price is $1.54 and its two-hundred day moving average price is $1.76. Mereo BioPharma Group has a 52-week low of $0.20 and a 52-week high of $3.26. The stock has a market capitalization of $101.84 million, a P/E ratio of -10.67 and a beta of 0.42.

Mereo BioPharma Group (NASDAQ:MREO) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.01) earnings per share for the quarter. As a group, equities research analysts expect that Mereo BioPharma Group will post -0.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MREO. Goldman Sachs Group Inc. raised its holdings in Mereo BioPharma Group by 0.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company’s stock worth $4,783,000 after purchasing an additional 6,068 shares in the last quarter. Woodline Partners LP raised 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Mereo BioPharma Group by 62.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,569,100 shares of the company’s stock worth $3,530,000 after buying an additional 604,200 shares in the last quarter. Atle Fund Management AB lifted its holdings in shares of Mereo BioPharma Group by 96.1% in the second quarter. Atle Fund Management AB now owns 764,901 shares of the company’s stock valued at $2,073,000 after buying an additional 374,901 shares during the period. Finally, Avanza Fonder AB boosted its stake in Mereo BioPharma Group by 36.0% during the second quarter. Avanza Fonder AB now owns 38,235 shares of the company’s stock valued at $104,000 after buying an additional 10,114 shares in the last quarter. Institutional investors and hedge funds 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.