Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) had its target price upped by analysts at JPMorgan Chase & Co. from $7.00 to $8.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 343.21% from the company's current price.
Several other research firms have also weighed in on MREO. Wall Street Zen upgraded Mereo BioPharma Group from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Needham & Company LLC set a $5.00 target price on Mereo BioPharma Group and gave the stock a "buy" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $7.40.
Read Our Latest Report on Mereo BioPharma Group
Mereo BioPharma Group Trading Up 6.2%
Shares of NASDAQ:MREO traded up $0.1050 during midday trading on Monday, hitting $1.8050. The company had a trading volume of 461,781 shares, compared to its average volume of 1,730,459. Mereo BioPharma Group has a 12 month low of $1.47 and a 12 month high of $4.95. The stock has a market cap of $287.00 million, a price-to-earnings ratio of -25.79 and a beta of 0.47. The firm has a fifty day simple moving average of $2.09 and a 200 day simple moving average of $2.32.
Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The firm had revenue of $0.50 million during the quarter, compared to analyst estimates of $7.80 million. Equities analysts forecast that Mereo BioPharma Group will post -0.03 EPS for the current fiscal year.
Institutional Trading of Mereo BioPharma Group
Several institutional investors and hedge funds have recently bought and sold shares of MREO. Marex Group plc bought a new stake in Mereo BioPharma Group in the second quarter valued at approximately $27,000. Nomura Holdings Inc. bought a new stake in Mereo BioPharma Group in the second quarter valued at approximately $339,000. Frazier Life Sciences Management L.P. raised its stake in Mereo BioPharma Group by 20.7% in the second quarter. Frazier Life Sciences Management L.P. now owns 9,440,112 shares of the company's stock valued at $25,583,000 after buying an additional 1,620,249 shares during the period. Paloma Partners Management Co bought a new stake in Mereo BioPharma Group in the second quarter valued at approximately $804,000. Finally, XTX Topco Ltd bought a new stake in Mereo BioPharma Group in the second quarter valued at approximately $188,000. Institutional investors own 62.83% of the company's stock.
About Mereo BioPharma Group
(
Get Free Report)
Mereo BioPharma Group plc, a biopharmaceutical company, develops and commercializes therapeutics for the treatment of oncology and rare diseases in the United Kingdom, the United States, and internationally. It develops Etigilimab (MPH-313), an antibody T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial for the treatment of tumors.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Mereo BioPharma Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mereo BioPharma Group wasn't on the list.
While Mereo BioPharma Group currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
We are about to experience the greatest A.I. boom in stock market history...
Thanks to a pivotal economic catalyst, specific tech stocks will skyrocket just like they did during the "dot com" boom in the 1990s.
That’s why, we’ve hand-selected 7 tiny tech disruptor stocks positioned to surge.
- The first pick is a tiny under-the-radar A.I. stock that's trading for just $3.00. This company already has 98 registered patents for cutting-edge voice and sound recognition technology... And has lined up major partnerships with some of the biggest names in the auto, tech, and music industry... plus many more.
- The second pick presents an affordable avenue to bolster EVs and AI development…. Analysts are calling this stock a “buy” right now and predict a high price target of $19.20, substantially more than its current $6 trading price.
- Our final and favorite pick is generating a brand-new kind of AI. It's believed this tech will be bigger than the current well-known leader in this industry… Analysts predict this innovative tech is gearing up to create a tidal wave of new wealth, fueling a $15.7 TRILLION market boom.
Right now, we’re staring down the barrel of a true once-in-a-lifetime moment. As an investment opportunity, this kind of breakthrough doesn't come along every day.
And the window to get in on the ground-floor — maximizing profit potential from this expected market surge — is closing quickly...
Simply enter your email below to get the names and tickers of the 7 small stocks with potential to make investors very, very happy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access