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Mereo BioPharma Group plc (NASDAQ:MREO) Receives $7.71 Consensus Price Target from Brokerages

Mereo BioPharma Group logo with Medical background

Mereo BioPharma Group plc (NASDAQ:MREO - Get Free Report) has earned a consensus recommendation of "Buy" from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $7.71.

Several brokerages have commented on MREO. Needham & Company LLC reiterated a "buy" rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a research report on Wednesday, April 9th. Cantor Fitzgerald reissued an "overweight" rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. started coverage on shares of Mereo BioPharma Group in a research report on Thursday, March 27th. They issued an "overweight" rating and a $7.00 price target on the stock.

Check Out Our Latest Report on Mereo BioPharma Group

Institutional Investors Weigh In On Mereo BioPharma Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MREO. State Street Corp acquired a new stake in shares of Mereo BioPharma Group during the 3rd quarter valued at about $195,000. Avanza Fonder AB acquired a new stake in Mereo BioPharma Group in the fourth quarter valued at approximately $69,000. PFG Investments LLC grew its position in Mereo BioPharma Group by 132.0% in the fourth quarter. PFG Investments LLC now owns 39,433 shares of the company's stock worth $138,000 after acquiring an additional 22,433 shares in the last quarter. Golden State Equity Partners increased its stake in shares of Mereo BioPharma Group by 247.7% during the 4th quarter. Golden State Equity Partners now owns 22,600 shares of the company's stock worth $79,000 after purchasing an additional 16,100 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Mereo BioPharma Group during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 62.83% of the company's stock.

Mereo BioPharma Group Stock Up 0.4 %

Mereo BioPharma Group stock traded up $0.01 during trading hours on Monday, hitting $2.43. 276,919 shares of the company traded hands, compared to its average volume of 1,094,621. Mereo BioPharma Group has a 1-year low of $1.58 and a 1-year high of $5.02. The firm has a market cap of $386.37 million, a P/E ratio of -40.50 and a beta of 0.53. The firm's 50-day simple moving average is $2.34 and its two-hundred day simple moving average is $3.06.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last announced its earnings results on Wednesday, March 26th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). On average, equities research analysts predict that Mereo BioPharma Group will post -0.03 earnings per share for the current year.

Mereo BioPharma Group Company Profile

(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.

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Analyst Recommendations for Mereo BioPharma Group (NASDAQ:MREO)

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