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

by · The Cerbat Gem

BTIG Research restated their buy rating on shares of Mereo BioPharma Group (NASDAQ:MREO – Free Report) in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a $1.00 price target on the stock.

Several other brokerages have also recently issued reports on MREO. JPMorgan Chase & Co. cut Mereo BioPharma Group from a “neutral” rating to an “underweight” rating in a report on Wednesday, August 19th. Needham & Company LLC reissued a “buy” rating on shares of Mereo BioPharma Group in a report on Tuesday, August 11th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Mereo BioPharma Group in a report on Tuesday, September 29th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $1.67.

Check Out Our Latest Research Report on Mereo BioPharma Group

Mereo BioPharma Group Stock Down 0.5%

Shares of Mereo BioPharma Group stock opened at $0.30 on Tuesday. The company has a 50-day moving average of $0.31 and a two-hundred day moving average of $0.32. Mereo BioPharma Group has a 12-month low of $0.20 and a 12-month high of $2.37.

Mereo BioPharma Group (NASDAQ:MREO – Get Free Report) last announced its quarterly earnings results on Monday, November 9th. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The firm had revenue of $0.80 million for the quarter, compared to analysts’ expectations of $0.02 million. As a group, equities research analysts forecast that Mereo BioPharma Group will post -0.03 earnings per share for the current year.

Institutional Trading of Mereo BioPharma Group

Several large investors have recently modified their holdings of the business. EcoR1 Capital LLC increased its stake in shares of Mereo BioPharma Group by 70.2% during the 1st quarter. EcoR1 Capital LLC now owns 13,368,855 shares of the company’s stock worth $4,412,000 after purchasing an additional 5,512,389 shares in the last quarter. Bank of America Corp DE lifted its stake in Mereo BioPharma Group by 32,048.5% in the 1st quarter. Bank of America Corp DE now owns 8,195,287 shares of the company’s stock valued at $2,704,000 after buying an additional 8,169,795 shares in the last quarter. Defilade Capital Management L.P. purchased a new stake in Mereo BioPharma Group in the 1st quarter valued at approximately $2,494,000. Finally, Forefront Analytics LLC lifted its stake in Mereo BioPharma Group by 302.2% in the 1st quarter. Forefront Analytics LLC now owns 127,778 shares of the company’s stock valued at $42,000 after buying an additional 96,010 shares in the last quarter. 62.83% of the stock is currently owned by institutional investors and hedge funds.

Mereo BioPharma Group Company Profile

(Get Free Report)

Mereo BioPharma Group plc is a clinical-stage biopharmaceutical company focused on developing therapies for rare diseases and oncology. The company’s research programs are intended to address conditions with significant unmet medical needs, using biologic and small-molecule drug candidates. Mereo’s lead program is setrusumab, an investigational monoclonal antibody designed to inhibit sclerostin and stimulate bone formation. The therapy is being developed for osteogenesis imperfecta, a rare genetic disorder characterized by fragile bones, through a collaboration with Ultragenyx Pharmaceutical.

Further Reading