Brokerages Set Mereo BioPharma Group plc (NASDAQ:MREO) PT at $7.71

Shares of Mereo BioPharma Group plc (NASDAQ:MREO) have received a consensus rating of “Buy” from the eight analysts that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $7.71.

MREO has been the subject of several analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, March 18th. Lifesci Capital initiated coverage on shares of Mereo BioPharma Group in a research note on Tuesday, December 24th. They issued an “outperform” rating and a $10.00 price objective for the company. JPMorgan Chase & Co. started coverage on shares of Mereo BioPharma Group in a research note on Thursday, March 27th. They issued an “overweight” rating and a $7.00 target price on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a report on Wednesday, April 9th.

Institutional Trading of Mereo BioPharma Group

Hedge funds have recently bought and sold shares of the stock. Graham Capital Management L.P. raised its position in shares of Mereo BioPharma Group by 74.7% during the fourth quarter. Graham Capital Management L.P. now owns 22,189 shares of the company’s stock valued at $78,000 after buying an additional 9,490 shares during the last quarter. GAMMA Investing LLC increased its stake in Mereo BioPharma Group by 109.5% during the first quarter. GAMMA Investing LLC now owns 18,855 shares of the company’s stock valued at $42,000 after acquiring an additional 9,854 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Mereo BioPharma Group during the fourth quarter valued at about $37,000. Jump Financial LLC acquired a new position in Mereo BioPharma Group in the 4th quarter valued at approximately $39,000. Finally, Golden State Equity Partners lifted its position in shares of Mereo BioPharma Group by 247.7% in the 4th quarter. Golden State Equity Partners now owns 22,600 shares of the company’s stock worth $79,000 after acquiring an additional 16,100 shares during the period. 62.83% of the stock is owned by institutional investors.

Mereo BioPharma Group Trading Down 2.6 %

Mereo BioPharma Group stock opened at $1.90 on Thursday. The company has a market capitalization of $294.78 million, a P/E ratio of -31.67 and a beta of 0.71. Mereo BioPharma Group has a 1-year low of $1.58 and a 1-year high of $5.02. The firm’s fifty day simple moving average is $2.46 and its 200-day simple moving average is $3.28.

Mereo BioPharma Group (NASDAQ:MREO) last announced its quarterly earnings results on Wednesday, March 26th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). On average, equities research analysts predict that Mereo BioPharma Group will post -0.03 earnings per share for the current year.

About Mereo BioPharma Group

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.