Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Receives Consensus Rating of “Hold” from Analysts

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) has been given a consensus rating of “Hold” by the eight ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $3.25.

Several brokerages recently weighed in on MREO. Robert W. Baird set a $1.00 price target on shares of Mereo BioPharma Group in a report on Monday, December 29th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Mereo BioPharma Group in a report on Monday, March 23rd. Needham & Company LLC dropped their price objective on shares of Mereo BioPharma Group from $5.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, January 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mereo BioPharma Group in a research note on Thursday, January 22nd. Finally, BTIG Research reaffirmed a “buy” rating and set a $1.00 price objective on shares of Mereo BioPharma Group in a research note on Friday, January 16th.

Mereo BioPharma Group Stock Performance

Shares of NASDAQ:MREO opened at $0.34 on Monday. Mereo BioPharma Group has a twelve month low of $0.20 and a twelve month high of $3.05. The company’s 50 day moving average is $0.37 and its 200 day moving average is $1.10. The company has a market cap of $53.73 million, a PE ratio of -5.61 and a beta of 0.43.

Mereo BioPharma Group (NASDAQ:MREO) last issued its quarterly earnings results on Friday, March 20th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). Equities research analysts predict that Mereo BioPharma Group will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mereo BioPharma Group

A number of institutional investors have recently added to or reduced their stakes in MREO. 683 Capital Management LLC grew its stake in 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 valued at $6,261,000 after acquiring an additional 10,150,000 shares during the period. EcoR1 Capital LLC acquired a new stake in Mereo BioPharma Group in the 4th quarter valued at $3,274,000. Schonfeld Strategic Advisors LLC grew its stake in Mereo BioPharma Group by 251.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 6,090,381 shares of the company’s stock valued at $2,538,000 after acquiring an additional 4,357,657 shares during the period. Aberdeen Group plc lifted its holdings in Mereo BioPharma Group by 82.9% in the 3rd quarter. Aberdeen Group plc now owns 5,538,699 shares of the company’s stock valued at $11,410,000 after purchasing an additional 2,509,827 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Mereo BioPharma Group in the 3rd quarter valued at $3,928,000. Institutional investors and hedge funds own 62.83% of the company’s stock.

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.