Shares of Mereo BioPharma Group plc (NASDAQ:MREO - Get Free Report) have earned an average recommendation of "Buy" from the eight ratings firms that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $7.71.
A number of research firms have recently weighed in on MREO. JPMorgan Chase & Co. began coverage on Mereo BioPharma Group in a report on Thursday, March 27th. They set an "overweight" rating and a $7.00 target price for the company. Cantor Fitzgerald reissued an "overweight" rating and set a $7.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, March 18th. Finally, Needham & Company LLC reissued a "buy" rating and set a $7.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, May 13th.
Get Our Latest Report on MREO
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in MREO. Newbridge Financial Services Group Inc. bought a new position in Mereo BioPharma Group in the 4th quarter worth about $37,000. Jump Financial LLC bought a new position in Mereo BioPharma Group in the 4th quarter worth about $39,000. Sheets Smith Investment Management bought a new position in Mereo BioPharma Group in the 4th quarter worth about $59,000. GAMMA Investing LLC boosted its stake in Mereo BioPharma Group by 109.5% in the 1st quarter. GAMMA Investing LLC now owns 18,855 shares of the company's stock worth $42,000 after purchasing an additional 9,854 shares during the period. Finally, Virtus ETF Advisers LLC bought a new position in Mereo BioPharma Group in the 4th quarter worth about $67,000. Institutional investors own 62.83% of the company's stock.
Mereo BioPharma Group Stock Performance
Mereo BioPharma Group stock traded up $0.10 during trading hours on Friday, reaching $2.65. 2,148,549 shares of the company's stock traded hands, compared to its average volume of 1,112,504. Mereo BioPharma Group has a fifty-two week low of $1.58 and a fifty-two week high of $5.02. The firm has a market capitalization of $421.35 million, a price-to-earnings ratio of -37.86 and a beta of 0.53. The firm's 50 day moving average is $2.27 and its 200-day moving average is $2.82.
Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). Analysts predict that Mereo BioPharma Group will post -0.03 EPS for the current year.
Mereo BioPharma Group Company Profile
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Get Free ReportMereo 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.
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