Mereo BioPharma Group (NASDAQ:MREO – Get Free Report)‘s stock had its “buy” rating reaffirmed by stock analysts at BTIG Research in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $1.00 target price on the stock. BTIG Research’s target price suggests a potential upside of 227.33% from the stock’s current price.
Other research analysts also recently issued research reports about the company. Zacks Research upgraded Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mereo BioPharma Group in a report on Thursday, July 2nd. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $3.25.
Get Our Latest Research Report on MREO
Mereo BioPharma Group Price Performance
Mereo BioPharma Group (NASDAQ:MREO – Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). As a group, equities analysts expect that Mereo BioPharma Group will post -0.02 EPS for the current fiscal year.
Institutional Trading of Mereo BioPharma Group
Several institutional investors and hedge funds have recently made changes to their positions in MREO. 683 Capital Management LLC increased its stake in Mereo BioPharma Group by 208.2% in the fourth quarter. 683 Capital Management LLC now owns 15,025,000 shares of the company’s stock valued at $6,261,000 after acquiring an additional 10,150,000 shares during the last quarter. EcoR1 Capital LLC boosted its stake in Mereo BioPharma Group by 70.2% in the first quarter. EcoR1 Capital LLC now owns 13,368,855 shares of the company’s stock worth $4,412,000 after buying an additional 5,512,389 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of 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 worth $2,704,000 after acquiring an additional 8,169,795 shares during the last quarter. Defilade Capital Management L.P. purchased a new position in Mereo BioPharma Group in the 1st quarter worth $2,494,000. Finally, Schonfeld Strategic Advisors LLC lifted its stake in Mereo BioPharma Group by 251.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 6,090,381 shares of the company’s stock worth $2,538,000 after purchasing an additional 4,357,657 shares during the last quarter. Hedge funds and other institutional investors own 62.83% of the company’s stock.
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.
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