Analysts Set Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Price Target at $3.25

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) has been assigned an average rating of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $3.25.

A number of equities research analysts have recently commented on MREO shares. Wall Street Zen cut Mereo BioPharma Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Needham & Company LLC lowered their price target on Mereo BioPharma Group from $5.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, January 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mereo BioPharma Group in a research report on Thursday, January 22nd. JPMorgan Chase & Co. restated a “neutral” rating on shares of Mereo BioPharma Group in a research note on Monday, March 23rd. Finally, Jefferies Financial Group cut shares of Mereo BioPharma Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 30th.

Hedge Funds Weigh In On Mereo BioPharma Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MREO. 683 Capital Management LLC boosted its stake in Mereo BioPharma Group by 208.2% during the 4th quarter. 683 Capital Management LLC now owns 15,025,000 shares of the company’s stock valued at $6,261,000 after purchasing an additional 10,150,000 shares during the last quarter. EcoR1 Capital LLC bought a new position in shares of Mereo BioPharma Group during the fourth quarter valued at $3,274,000. Schonfeld Strategic Advisors LLC boosted its position in shares of Mereo BioPharma Group by 251.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 6,090,381 shares of the company’s stock valued at $2,538,000 after buying an additional 4,357,657 shares during the last quarter. Aberdeen Group plc boosted its position in shares of Mereo BioPharma Group by 82.9% during the third quarter. Aberdeen Group plc now owns 5,538,699 shares of the company’s stock valued at $11,410,000 after buying an additional 2,509,827 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Mereo BioPharma Group in the 3rd quarter worth about $3,928,000. 62.83% of the stock is owned by institutional investors.

Mereo BioPharma Group Stock Performance

Shares of NASDAQ MREO opened at $0.33 on Thursday. The company has a 50 day simple moving average of $0.40 and a two-hundred day simple moving average of $1.23. Mereo BioPharma Group has a fifty-two week low of $0.20 and a fifty-two week high of $3.05. The company has a market capitalization of $52.51 million, a price-to-earnings ratio of -5.50 and a beta of 0.34.

Mereo BioPharma Group (NASDAQ:MREO) last issued its quarterly earnings results on Friday, March 20th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). On average, analysts forecast that Mereo BioPharma Group will post -0.03 earnings per share for the current fiscal year.

Mereo BioPharma Group Company Profile

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.