Mereo BioPharma Group plc - Sponsored ADR (NASDAQ:MREO) Receives Average Rating of "Buy" from Brokerages

Key Points

• Brokerages have given Mereo BioPharma Group plc a consensus rating of "Buy", with four analysts recommending buy and one a strong buy.
• The average one-year price target for the stock is $7.40, while recent reports indicate varying target prices from $5.00 to $8.00.
• Mereo BioPharma's shares are currently trading around $1.77, down from a 52-week high of $4.72, and they reported a revenue of just $0.50 million for the last quarter.

Shares of Mereo BioPharma Group plc - Sponsored ADR (NASDAQ:MREO - Get Free Report) have been given a consensus recommendation of "Buy" by the five brokerages that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $7.40.

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC set a $5.00 price target on shares of Mereo BioPharma Group and gave the stock a "buy" rating in a research note on Thursday, July 10th. Wall Street Zen upgraded shares of Mereo BioPharma Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, JPMorgan Chase & Co. raised their price target on shares of Mereo BioPharma Group from $7.00 to $8.00 and gave the stock an "overweight" rating in a research note on Monday, August 25th.

Mereo BioPharma Group Price Performance

Shares of NASDAQ:MREO traded down $0.03 during midday trading on Friday, hitting $1.80. 595,621 shares of the company's stock were exchanged, compared to its average volume of 1,680,663. The stock has a 50 day moving average price of $1.85 and a 200-day moving average price of $2.22. The company has a market cap of $285.41 million, a PE ratio of -25.64 and a beta of 0.47. Mereo BioPharma Group has a 12 month low of $1.47 and a 12 month high of $4.72.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The firm had revenue of $0.50 million for the quarter, compared to the consensus estimate of $7.80 million. On average, analysts anticipate that Mereo BioPharma Group will post -0.03 EPS for the current fiscal year.

Institutional Trading of Mereo BioPharma Group

A number of institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its stake in shares of Mereo BioPharma Group by 0.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company's stock valued at $4,783,000 after buying an additional 6,068 shares in the last quarter. Significant Wealth Partners LLC increased its holdings in Mereo BioPharma Group by 61.7% during the 2nd quarter. Significant Wealth Partners LLC now owns 22,261 shares of the company's stock worth $60,000 after acquiring an additional 8,490 shares during the period. Avanza Fonder AB increased its holdings in Mereo BioPharma Group by 43.5% during the 1st quarter. Avanza Fonder AB now owns 28,121 shares of the company's stock worth $67,000 after acquiring an additional 8,521 shares during the period. Graham Capital Management L.P. increased its holdings in Mereo BioPharma Group by 74.7% during the 4th quarter. Graham Capital Management L.P. now owns 22,189 shares of the company's stock worth $78,000 after acquiring an additional 9,490 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Mereo BioPharma Group by 109.5% during the 1st quarter. GAMMA Investing LLC now owns 18,855 shares of the company's stock worth $42,000 after acquiring an additional 9,854 shares during the period. 62.83% of the stock is currently owned by hedge funds and other institutional investors.

About Mereo BioPharma Group

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.