Mereo BioPharma Group’s (MREO) Buy Rating Reaffirmed at BTIG Research

Mereo BioPharma Group (NASDAQ:MREO)‘s stock had its “buy” rating reiterated by equities research analysts at BTIG Research in a research note issued on Friday,Benzinga reports. They currently have a $1.00 target price on the stock. BTIG Research’s price objective would indicate a potential upside of 60.26% from the stock’s previous close.

Several other research analysts have also recently issued reports on MREO. Cantor Fitzgerald reissued an “overweight” rating on shares of Mereo BioPharma Group in a research note on Monday, December 29th. Robert W. Baird set a $1.00 price target on Mereo BioPharma Group in a research report on Monday, December 29th. Zacks Research upgraded Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Lifesci Capital cut shares of Mereo BioPharma Group from an “outperform” rating to a “hold” rating in a report on Monday, December 29th. Finally, Wall Street Zen lowered shares of Mereo BioPharma Group from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Mereo BioPharma Group has an average rating of “Hold” and an average price target of $4.00.

Mereo BioPharma Group Trading Down 6.9%

Shares of MREO traded down $0.05 during trading hours on Friday, reaching $0.62. 9,550,424 shares of the company traded hands, compared to its average volume of 33,945,281. The stock’s fifty day moving average price is $1.56 and its 200 day moving average price is $1.79. The firm has a market cap of $99.30 million, a price-to-earnings ratio of -10.38 and a beta of 0.42. Mereo BioPharma Group has a 12-month low of $0.20 and a 12-month high of $3.26.

Mereo BioPharma Group (NASDAQ:MREO) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.01) earnings per share for the quarter. On average, research analysts forecast that Mereo BioPharma Group will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Mereo BioPharma Group

Institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its holdings in shares of Mereo BioPharma Group by 0.3% during the first 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 in the last quarter. Woodline Partners LP increased its stake in 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 purchasing an additional 329,202 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Mereo BioPharma Group by 62.6% in 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 buying 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 second quarter. Atle Fund Management AB now owns 764,901 shares of the company’s stock worth $2,073,000 after buying an additional 374,901 shares during the last quarter. Finally, Avanza Fonder AB lifted its stake in shares of Mereo BioPharma Group by 36.0% during the second quarter. Avanza Fonder AB now owns 38,235 shares of the company’s stock worth $104,000 after buying an additional 10,114 shares during the period. Institutional investors and hedge funds 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.