Mereo BioPharma Group’s (MREO) Buy Rating Reaffirmed at BTIG Research

BTIG Research reiterated their buy rating on shares of Mereo BioPharma Group (NASDAQ:MREO) in a research note released on Tuesday,Benzinga reports. They currently have a $1.00 target price on the stock.

Several other equities research analysts have also recently issued reports on the company. Needham & Company LLC lowered their price objective on Mereo BioPharma Group from $5.00 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, January 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mereo BioPharma Group in a report on Thursday, January 22nd. Lifesci Capital upgraded Mereo BioPharma Group to a “hold” rating in a report on Thursday, March 19th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Mereo BioPharma Group in a report on Monday, March 23rd. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $3.25.

Mereo BioPharma Group Stock Up 1.4%

Shares of Mereo BioPharma Group stock opened at $0.25 on Tuesday. Mereo BioPharma Group has a twelve month low of $0.20 and a twelve month high of $3.05. The business has a 50-day moving average price of $0.33 and a 200 day moving average price of $0.91. The firm has a market cap of $39.27 million, a PE ratio of -4.10 and a beta of 0.24.

Mereo BioPharma Group (NASDAQ:MREO) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). On average, sell-side analysts expect that Mereo BioPharma Group will post -0.01 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its stake in Mereo BioPharma Group by 0.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company’s stock worth $4,783,000 after acquiring an additional 6,068 shares during the period. Squarepoint Ops LLC grew its stake in Mereo BioPharma Group by 45.4% in the 3rd quarter. Squarepoint Ops LLC now owns 30,055 shares of the company’s stock worth $62,000 after acquiring an additional 9,387 shares during the period. Marex Group plc purchased a new stake in Mereo BioPharma Group in the 2nd quarter worth approximately $27,000. Forefront Analytics LLC grew its stake in Mereo BioPharma Group by 73.4% in the 3rd quarter. Forefront Analytics LLC now owns 33,180 shares of the company’s stock worth $68,000 after acquiring an additional 14,042 shares during the period. Finally, State of New Jersey Common Pension Fund D purchased a new stake in Mereo BioPharma Group in the 3rd quarter worth approximately $32,000. 62.83% of the stock is currently owned by institutional investors and hedge funds.

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.