Mereo BioPharma Group’s (MREO) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Mereo BioPharma Group (NASDAQ:MREO) in a report released on Tuesday morning,Benzinga reports.

A number of other equities research analysts have also recently issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Mereo BioPharma Group in a research note on Thursday, July 2nd. BTIG Research reiterated a “buy” rating and issued a $1.00 target price on shares of Mereo BioPharma Group in a research note on Tuesday. Finally, Zacks Research upgraded shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $3.25.

Mereo BioPharma Group Stock Up 12.2%

Mereo BioPharma Group stock opened at $0.31 on Tuesday. The company has a market capitalization of $48.76 million, a P/E ratio of -6.11 and a beta of 0.36. The firm has a 50 day moving average price of $0.31 and a 200-day moving average price of $0.34. Mereo BioPharma Group has a twelve month low of $0.20 and a twelve month high of $2.37.

Mereo BioPharma Group (NASDAQ:MREO) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). Equities analysts expect that Mereo BioPharma Group will post -0.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Mereo BioPharma Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Marex Group plc bought a new position in shares of Mereo BioPharma Group in the second quarter worth approximately $27,000. Virtu Financial LLC bought a new stake in shares of Mereo BioPharma Group in the 3rd quarter worth approximately $33,000. Forefront Analytics LLC lifted its stake in Mereo BioPharma Group by 302.2% in the first quarter. Forefront Analytics LLC now owns 127,778 shares of the company’s stock worth $42,000 after purchasing an additional 96,010 shares during the last quarter. Graham Capital Management L.P. purchased a new position in shares of Mereo BioPharma Group in the fourth quarter worth about $48,000. Finally, Virtus Investment Advisers LLC increased its stake in Mereo BioPharma Group by 199.5% in the 4th quarter. Virtus Investment Advisers LLC now owns 122,595 shares of the company’s stock worth $51,000 after purchasing an additional 81,665 shares during the period. Hedge funds and other institutional investors 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.