Analysts Set Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Price Target at $3.25

Shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) have been assigned a consensus rating of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $3.25.

Several research firms have recently commented on MREO. BTIG Research reaffirmed a “buy” rating and set a $1.00 price target on shares of Mereo BioPharma Group in a research report on Tuesday, May 12th. Lifesci Capital raised shares of Mereo BioPharma Group to a “hold” rating in a research report on Thursday, March 19th. Zacks Research raised shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Mereo BioPharma Group in a research report on Monday, March 23rd.

Mereo BioPharma Group Stock Down 2.2%

NASDAQ MREO opened at $0.31 on Tuesday. Mereo BioPharma Group has a 52 week low of $0.20 and a 52 week high of $3.05. The firm has a market capitalization of $48.68 million, a P/E ratio of -6.10 and a beta of 0.33. The company has a 50-day moving average price of $0.30 and a 200-day moving average price of $0.67.

Mereo BioPharma Group (NASDAQ:MREO) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). As a group, equities research analysts anticipate that Mereo BioPharma Group will post -0.02 EPS 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. grew its stake in shares of Mereo BioPharma Group by 0.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company’s stock valued at $4,783,000 after acquiring an additional 6,068 shares during the period. Woodline Partners LP grew its stake in shares of Mereo BioPharma Group by 53.2% during the 1st quarter. Woodline Partners LP now owns 947,986 shares of the company’s stock valued at $2,133,000 after acquiring an additional 329,202 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Mereo BioPharma Group by 62.6% during 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 valued at $3,530,000 after acquiring an additional 604,200 shares during the period. XTX Topco Ltd bought a new position in shares of Mereo BioPharma Group during the 2nd quarter valued at approximately $188,000. Finally, Paloma Partners Management Co bought a new position in shares of Mereo BioPharma Group during the 2nd quarter valued at approximately $804,000. 62.83% of the stock is currently owned by institutional investors.

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.