Mereo BioPharma Group (NASDAQ:MREO) Raised to “Hold” at Zacks Research

Mereo BioPharma Group (NASDAQ:MREO) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

A number of other analysts also recently weighed in on the stock. Lifesci Capital raised shares of Mereo BioPharma Group to a “hold” rating in a research report on Thursday, March 19th. BTIG Research reissued a “buy” rating and set a $1.00 target price on shares of Mereo BioPharma Group in a research report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of Mereo BioPharma Group in a research report on Monday, March 23rd. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $3.25.

Mereo BioPharma Group Price Performance

Mereo BioPharma Group stock opened at $0.31 on Wednesday. The business has a 50 day moving average of $0.30 and a 200-day moving average of $0.67. Mereo BioPharma Group has a 1 year low of $0.20 and a 1 year high of $3.05. The company has a market capitalization of $49.77 million, a P/E ratio of -6.24 and a beta of 0.33.

Mereo BioPharma Group (NASDAQ:MREO) last released its earnings results on Tuesday, May 12th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Equities analysts anticipate that Mereo BioPharma Group will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Mereo BioPharma Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its holdings in shares of Mereo BioPharma Group by 0.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company’s stock worth $4,783,000 after buying an additional 6,068 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Mereo BioPharma Group by 45.4% during the 3rd quarter. Squarepoint Ops LLC now owns 30,055 shares of the company’s stock worth $62,000 after buying an additional 9,387 shares in the last quarter. Marex Group plc bought a new position in shares of Mereo BioPharma Group during the 2nd quarter worth approximately $27,000. Forefront Analytics LLC boosted its holdings in shares of Mereo BioPharma Group by 73.4% during the 3rd quarter. Forefront Analytics LLC now owns 33,180 shares of the company’s stock worth $68,000 after buying an additional 14,042 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new position in shares of Mereo BioPharma Group during the 3rd quarter worth approximately $32,000. 62.83% of the stock is currently owned by institutional investors.

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.