Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Receives $7.20 Average Price Target from Analysts

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) has received an average rating of “Buy” from the five research firms that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $7.20.

A number of brokerages have commented on MREO. Needham & Company LLC set a $5.00 price target on shares of Mereo BioPharma Group and gave the company a “buy” rating in a research note on Thursday, July 10th. Wall Street Zen upgraded shares of Mereo BioPharma Group from a “sell” rating to a “hold” rating in a research note on Saturday.

Hedge Funds Weigh In On Mereo BioPharma Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. boosted its holdings in shares of Mereo BioPharma Group by 187.9% in the 4th quarter. Ameriprise Financial Inc. now owns 94,456 shares of the company’s stock worth $331,000 after buying an additional 61,642 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Mereo BioPharma Group by 109.5% in the 1st quarter. GAMMA Investing LLC now owns 18,855 shares of the company’s stock worth $42,000 after buying an additional 9,854 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Mereo BioPharma Group in the 4th quarter worth about $133,000. Walleye Capital LLC purchased a new position in shares of Mereo BioPharma Group in the 4th quarter worth about $454,000. Finally, Tema Etfs LLC bought a new stake in Mereo BioPharma Group in the 4th quarter valued at about $3,117,000. 62.83% of the stock is owned by hedge funds and other institutional investors.

Mereo BioPharma Group Stock Performance

Mereo BioPharma Group stock opened at $1.74 on Wednesday. Mereo BioPharma Group has a 52-week low of $1.47 and a 52-week high of $5.02. The firm has a 50 day moving average price of $2.20 and a two-hundred day moving average price of $2.37. The firm has a market cap of $276.66 million, a price-to-earnings ratio of -24.86 and a beta of 0.47.

Mereo BioPharma Group (NASDAQ:MREO) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The firm had revenue of $0.50 million for the quarter, compared to the consensus estimate of $7.80 million. As a group, equities research analysts predict that Mereo BioPharma Group will post -0.03 EPS for the current fiscal 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.