Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Stock Has Average Target Price of $1.67

Shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) have earned a consensus rating of “Hold” from the eight brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $1.67.

Several analysts have recently issued reports on MREO shares. BTIG Research reissued a “buy” rating and set a $1.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, August 11th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Mereo BioPharma Group in a research report on Wednesday, August 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mereo BioPharma Group in a research note on Tuesday, September 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Mereo BioPharma Group in a research report on Tuesday, August 11th.

Mereo BioPharma Group Trading Down 3.3%

Shares of MREO stock opened at $0.31 on Monday. Mereo BioPharma Group has a 1 year low of $0.20 and a 1 year high of $2.37. The stock has a 50 day simple moving average of $0.31 and a 200 day simple moving average of $0.31.

Mereo BioPharma Group (NASDAQ:MREO) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). On average, equities research analysts expect that Mereo BioPharma Group will post -0.04 earnings per share for the current year.

Hedge Funds Weigh In On Mereo BioPharma Group

Hedge funds have recently bought and sold shares of the company. 683 Capital Management LLC raised its position in shares of Mereo BioPharma Group by 208.2% in the 4th quarter. 683 Capital Management LLC now owns 15,025,000 shares of the company’s stock valued at $6,261,000 after buying an additional 10,150,000 shares in the last quarter. EcoR1 Capital LLC lifted its holdings in shares of Mereo BioPharma Group by 70.2% during the 1st quarter. EcoR1 Capital LLC now owns 13,368,855 shares of the company’s stock worth $4,412,000 after acquiring an additional 5,512,389 shares during the period. Bank of America Corp DE boosted its position in shares of Mereo BioPharma Group by 32,048.5% during the 1st quarter. Bank of America Corp DE now owns 8,195,287 shares of the company’s stock worth $2,704,000 after acquiring an additional 8,169,795 shares in the last quarter. Defilade Capital Management L.P. acquired a new stake in shares of Mereo BioPharma Group during the 1st quarter worth approximately $2,494,000. Finally, Forefront Analytics LLC boosted its position in shares of Mereo BioPharma Group by 302.2% during the 1st quarter. Forefront Analytics LLC now owns 127,778 shares of the company’s stock worth $42,000 after acquiring an additional 96,010 shares in the last quarter. 62.83% of the stock is owned by institutional investors.

Mereo BioPharma Group Company Profile

Mereo BioPharma Group plc is a clinical-stage biopharmaceutical company focused on developing medicines for rare diseases and other serious conditions with limited treatment options. The company’s activities include drug discovery, clinical development and commercialization through partnerships with larger pharmaceutical companies.

Mereo’s pipeline has included setrusumab, an investigational anti-sclerostin antibody being developed for osteogenesis imperfecta, a rare genetic disorder characterized by fragile bones.