Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Receives $4.40 Average PT from Analysts

Shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) have received a consensus rating of “Hold” from the eight analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $4.00.

MREO has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Mereo BioPharma Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Zacks Research raised Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Robert W. Baird set a $1.00 price objective on shares of Mereo BioPharma Group in a research note on Monday, December 29th. Jefferies Financial Group lowered shares of Mereo BioPharma Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 30th. Finally, BTIG Research reissued a “buy” rating and issued a $1.00 target price on shares of Mereo BioPharma Group in a research report on Friday.

Mereo BioPharma Group Price Performance

NASDAQ:MREO opened at $0.64 on Friday. The firm has a market cap of $101.84 million, a PE ratio of -10.67 and a beta of 0.42. The firm has a 50 day simple moving average of $1.54 and a 200-day simple moving average of $1.77. Mereo BioPharma Group has a 1-year low of $0.20 and a 1-year high of $3.26.

Mereo BioPharma Group (NASDAQ:MREO) last released its earnings results on Monday, November 10th. The company reported ($0.01) EPS for the quarter. As a group, sell-side analysts expect that Mereo BioPharma Group will post -0.03 earnings per share for the current fiscal year.

Institutional Trading of Mereo BioPharma Group

Several institutional investors have recently made changes to their positions in MREO. Goldman Sachs Group Inc. raised its position in shares of 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 buying an additional 6,068 shares during the period. Woodline Partners LP increased its stake in Mereo BioPharma Group by 53.2% during the first quarter. Woodline Partners LP now owns 947,986 shares of the company’s stock worth $2,133,000 after acquiring an additional 329,202 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Mereo BioPharma Group by 62.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,569,100 shares of the company’s stock worth $3,530,000 after acquiring an additional 604,200 shares during the last quarter. Atle Fund Management AB raised its holdings in shares of Mereo BioPharma Group by 96.1% in the 2nd quarter. Atle Fund Management AB now owns 764,901 shares of the company’s stock worth $2,073,000 after purchasing an additional 374,901 shares during the period. Finally, Avanza Fonder AB lifted its stake in shares of Mereo BioPharma Group by 36.0% in the 2nd quarter. Avanza Fonder AB now owns 38,235 shares of the company’s stock valued at $104,000 after purchasing an additional 10,114 shares in the last quarter. 62.83% of the stock is owned by hedge funds and other 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.