Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Receives $4.00 Consensus Price Target from Analysts

by · The Markets Daily

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO – Get Free Report) has received a consensus rating of “Hold” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $4.00.

Several analysts recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Mereo BioPharma Group in a report on Monday, December 29th. Robert W. Baird set a $1.00 price objective on Mereo BioPharma Group in a research report on Monday, December 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mereo BioPharma Group in a report on Thursday, January 22nd. Zacks Research raised shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, BTIG Research restated a “buy” rating and issued a $1.00 price target on shares of Mereo BioPharma Group in a research note on Friday, January 16th.

Read Our Latest Research Report on Mereo BioPharma Group

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MREO. Goldman Sachs Group Inc. boosted its stake in shares of Mereo BioPharma Group by 0.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company’s stock valued at $4,783,000 after buying an additional 6,068 shares during the period. 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 worth $2,133,000 after acquiring an additional 329,202 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Mereo BioPharma Group by 62.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,569,100 shares of the company’s stock valued at $3,530,000 after acquiring an additional 604,200 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Mereo BioPharma Group during the 2nd quarter valued at $188,000. Finally, Paloma Partners Management Co bought a new stake in shares of Mereo BioPharma Group during the 2nd quarter valued at $804,000. 62.83% of the stock is owned by institutional investors.

Mereo BioPharma Group Stock Up 3.1%

Shares of MREO stock opened at $0.41 on Friday. Mereo BioPharma Group has a 12-month low of $0.20 and a 12-month high of $3.05. The company has a market capitalization of $65.24 million, a PE ratio of -6.83 and a beta of 0.34. The firm has a 50 day moving average price of $0.57 and a two-hundred day moving average price of $1.43.

About Mereo BioPharma Group

(Get Free Report)

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.

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