Mereo BioPharma Group (NASDAQ:MREO) PT Set at $5.00 by Needham & Company LLC

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) has been given a $5.00 price objective by Needham & Company LLC in a research note issued to investors on Thursday, July 10th, Marketbeat.com reports. The firm presently has a "buy" rating on the stock. Needham & Company LLC's price target indicates a potential upside of 184.90% from the stock's previous close.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. initiated coverage on Mereo BioPharma Group in a research report on Thursday, March 27th. They set an "overweight" rating and a $7.00 target price on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Mereo BioPharma Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $7.20.

Mereo BioPharma Group Stock Up 2.6%

MREO stock traded up $0.05 during mid-day trading on Thursday, reaching $1.76. 1,330,518 shares of the stock traded hands, compared to its average volume of 1,358,068. The firm has a market capitalization of $279.05 million, a PE ratio of -24.93 and a beta of 0.46. The business has a 50-day moving average of $2.46 and a two-hundred day moving average of $2.58. Mereo BioPharma Group has a 52 week low of $1.57 and a 52 week high of $5.02.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). On average, equities research analysts anticipate that Mereo BioPharma Group will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Mereo BioPharma Group

Several institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its stake in shares of Mereo BioPharma Group by 38.7% during the fourth quarter. Janus Henderson Group PLC now owns 17,122,563 shares of the company's stock valued at $59,843,000 after acquiring an additional 4,776,697 shares during the period. Frazier Life Sciences Management L.P. raised its holdings in Mereo BioPharma Group by 53.4% during the 1st quarter. Frazier Life Sciences Management L.P. now owns 7,819,863 shares of the company's stock worth $17,595,000 after purchasing an additional 2,722,084 shares during the last quarter. Aberdeen Group plc acquired a new position in Mereo BioPharma Group during the 1st quarter valued at about $4,924,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Mereo BioPharma Group in the 4th quarter valued at about $3,377,000. Finally, Tema Etfs LLC acquired a new stake in Mereo BioPharma Group during the 4th quarter worth $3,117,000. 62.83% of the stock is owned by institutional investors.

Mereo BioPharma Group Company Profile

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.