Analysts Set Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) PT at $7.50

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $7.20.

A number of equities analysts have issued reports on MREO shares. JPMorgan Chase & Co. raised their target price on shares of Mereo BioPharma Group from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Monday, August 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mereo BioPharma Group in a research report on Wednesday, October 8th. BTIG Research restated a “buy” rating and set a $6.00 price objective on shares of Mereo BioPharma Group in a research report on Thursday. Finally, Zacks Research upgraded Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th.

Mereo BioPharma Group Price Performance

Mereo BioPharma Group stock opened at $1.92 on Tuesday. Mereo BioPharma Group has a 12 month low of $1.47 and a 12 month high of $3.88. The company has a fifty day moving average price of $1.94 and a two-hundred day moving average price of $2.02. The company has a market cap of $305.53 million, a PE ratio of -32.00 and a beta of 0.44.

Mereo BioPharma Group (NASDAQ:MREO) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.01) earnings per share (EPS) for the quarter. Equities research analysts anticipate that Mereo BioPharma Group will post -0.03 earnings per share for the current year.

Institutional Trading of Mereo BioPharma Group

Several hedge funds have recently bought and sold shares of MREO. Frazier Life Sciences Management L.P. grew its position in Mereo BioPharma Group by 53.4% in the 1st quarter. Frazier Life Sciences Management L.P. now owns 7,819,863 shares of the company’s stock worth $17,595,000 after purchasing an additional 2,722,084 shares during the last quarter. Aberdeen Group plc raised its holdings in shares of Mereo BioPharma Group by 82.9% during the third quarter. Aberdeen Group plc now owns 5,538,699 shares of the company’s stock valued at $11,410,000 after buying an additional 2,509,827 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Mereo BioPharma Group during the third quarter worth approximately $3,928,000. Blue Owl Capital Holdings LP bought a new position in Mereo BioPharma Group in the 3rd quarter worth approximately $2,575,000. Finally, Schonfeld Strategic Advisors LLC increased its position in Mereo BioPharma Group by 90.5% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,732,724 shares of the company’s stock valued at $3,569,000 after acquiring an additional 823,084 shares during the period. 62.83% of the stock is currently owned by institutional investors.

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.