Mereo BioPharma Group plc (NASDAQ:MREO) Receives Consensus Rating of "Buy" from Brokerages

Shares of Mereo BioPharma Group plc (NASDAQ:MREO - Get Free Report) have earned an average recommendation of "Buy" from the eight ratings firms that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $7.71.

A number of research firms have recently weighed in on MREO. JPMorgan Chase & Co. began coverage on Mereo BioPharma Group in a report on Thursday, March 27th. They set an "overweight" rating and a $7.00 target price for the company. Cantor Fitzgerald reissued an "overweight" rating and set a $7.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, March 18th. Finally, Needham & Company LLC reissued a "buy" rating and set a $7.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, May 13th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MREO. Newbridge Financial Services Group Inc. bought a new position in Mereo BioPharma Group in the 4th quarter worth about $37,000. Jump Financial LLC bought a new position in Mereo BioPharma Group in the 4th quarter worth about $39,000. Sheets Smith Investment Management bought a new position in Mereo BioPharma Group in the 4th quarter worth about $59,000. GAMMA Investing LLC boosted its stake in Mereo BioPharma Group by 109.5% in the 1st quarter. GAMMA Investing LLC now owns 18,855 shares of the company's stock worth $42,000 after purchasing an additional 9,854 shares during the period. Finally, Virtus ETF Advisers LLC bought a new position in Mereo BioPharma Group in the 4th quarter worth about $67,000. Institutional investors own 62.83% of the company's stock.

Mereo BioPharma Group Stock Performance

Mereo BioPharma Group stock traded up $0.10 during trading hours on Friday, reaching $2.65. 2,148,549 shares of the company's stock traded hands, compared to its average volume of 1,112,504. Mereo BioPharma Group has a fifty-two week low of $1.58 and a fifty-two week high of $5.02. The firm has a market capitalization of $421.35 million, a price-to-earnings ratio of -37.86 and a beta of 0.53. The firm's 50 day moving average is $2.27 and its 200-day moving average is $2.82.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last posted 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). Analysts predict that Mereo BioPharma Group will post -0.03 EPS for the current year.

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.