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

Shares of Mereo BioPharma Group plc (NASDAQ:MREO) have been given an average recommendation of “Buy” by the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $7.83.

Several equities research analysts have recently weighed in on the stock. Lifesci Capital initiated coverage on shares of Mereo BioPharma Group in a research report on Tuesday, December 24th. They issued an “outperform” rating and a $10.00 price target for the company. Cantor Fitzgerald upgraded Mereo BioPharma Group to a “strong-buy” rating in a research note on Sunday, December 8th. Jefferies Financial Group assumed coverage on shares of Mereo BioPharma Group in a research report on Friday, December 6th. They issued a “buy” rating and a $7.00 price objective for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research report on Monday, January 13th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. purchased a new stake in Mereo BioPharma Group during the fourth quarter worth $37,000. Jump Financial LLC acquired a new position in shares of Mereo BioPharma Group in the fourth quarter worth about $39,000. Sheets Smith Investment Management acquired a new position in shares of Mereo BioPharma Group in the fourth quarter worth about $59,000. Virtus ETF Advisers LLC purchased a new stake in shares of Mereo BioPharma Group during the 4th quarter worth about $67,000. Finally, Avanza Fonder AB acquired a new stake in shares of Mereo BioPharma Group during the 4th quarter valued at about $69,000. 62.83% of the stock is currently owned by hedge funds and other institutional investors.

Mereo BioPharma Group Trading Up 0.7 %

NASDAQ:MREO opened at $2.89 on Wednesday. Mereo BioPharma Group has a twelve month low of $2.80 and a twelve month high of $5.02. The stock has a fifty day simple moving average of $3.29 and a 200-day simple moving average of $3.84.

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.