Mereo BioPharma Group (NASDAQ:MREO) Releases Earnings Results, Misses Estimates By $0.03 EPS

Mereo BioPharma Group (NASDAQ:MREO) released its earnings results on Wednesday. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03), Zacks reports.

Mereo BioPharma Group Price Performance

NASDAQ:MREO opened at $2.35 on Wednesday. The stock has a 50 day simple moving average of $2.76 and a 200 day simple moving average of $3.52. Mereo BioPharma Group has a 1-year low of $2.25 and a 1-year high of $5.02.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research note on Monday, January 13th. Lifesci Capital started coverage on shares of Mereo BioPharma Group in a report on Tuesday, December 24th. They issued an “outperform” rating and a $10.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a report on Tuesday, March 18th. Finally, Jefferies Financial Group started coverage on Mereo BioPharma Group in a research report on Friday, December 6th. They issued a “buy” rating and a $7.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Mereo BioPharma Group currently has an average rating of “Buy” and an average price target of $7.83.

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.