Mereo BioPharma Group plc - Sponsored ADR (NASDAQ:MREO) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Consensus "Hold" — eight analysts cover MREO (1 sell, 4 hold, 3 buy) and the average 12‑month target price is $3.25.
• Mereo shares trade at penny‑stock levels (opened $0.34; 12‑month low $0.20, high $3.05) with a $53.7M market cap, negative PE, and 50/200‑day moving averages of $0.37/$1.10, reflecting weak recent performance.
• Institutional ownership 62.83% with large recent purchases by firms such as 683 Capital and Schonfeld, signaling substantial hedge‑fund interest despite mixed analyst sentiment.

Mereo BioPharma Group plc - Sponsored ADR (NASDAQ:MREO - Get Free Report) has been given a consensus rating of "Hold" by the eight ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $3.25.

Several brokerages recently weighed in on MREO. Robert W. Baird set a $1.00 price target on shares of Mereo BioPharma Group in a report on Monday, December 29th. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Mereo BioPharma Group in a report on Monday, March 23rd. Needham & Company LLC dropped their price objective on shares of Mereo BioPharma Group from $5.00 to $3.00 and set a "buy" rating on the stock in a research note on Tuesday, January 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Mereo BioPharma Group in a research note on Thursday, January 22nd. Finally, BTIG Research reaffirmed a "buy" rating and set a $1.00 price objective on shares of Mereo BioPharma Group in a research note on Friday, January 16th.

Mereo BioPharma Group Stock Performance

Shares of NASDAQ:MREO opened at $0.34 on Monday. Mereo BioPharma Group has a twelve month low of $0.20 and a twelve month high of $3.05. The company's 50 day moving average is $0.37 and its 200 day moving average is $1.10. The company has a market cap of $53.73 million, a PE ratio of -5.61 and a beta of 0.43.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last issued its quarterly earnings results on Friday, March 20th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). Equities research analysts predict that Mereo BioPharma Group will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mereo BioPharma Group

A number of institutional investors have recently added to or reduced their stakes in MREO. 683 Capital Management LLC grew its stake in Mereo BioPharma Group by 208.2% in the 4th quarter. 683 Capital Management LLC now owns 15,025,000 shares of the company's stock valued at $6,261,000 after acquiring an additional 10,150,000 shares during the period. EcoR1 Capital LLC acquired a new stake in Mereo BioPharma Group in the 4th quarter valued at $3,274,000. Schonfeld Strategic Advisors LLC grew its stake in Mereo BioPharma Group by 251.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 6,090,381 shares of the company's stock valued at $2,538,000 after acquiring an additional 4,357,657 shares during the period. Aberdeen Group plc lifted its holdings in Mereo BioPharma Group by 82.9% in the 3rd quarter. Aberdeen Group plc now owns 5,538,699 shares of the company's stock valued at $11,410,000 after purchasing an additional 2,509,827 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Mereo BioPharma Group in the 3rd quarter valued at $3,928,000. Institutional investors and hedge funds own 62.83% of the company's stock.

Mereo BioPharma Group Company Profile

Mereo BioPharma Group plc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for rare diseases, oncology and severe respiratory conditions. The company pursues an asset‐centric model, in which it in-licenses or acquires clinical-stage small molecules and monoclonal antibodies with established safety profiles. By concentrating resources on a select number of programs, Mereo aims to accelerate proof-of-concept studies and maximize the potential value of each therapeutic candidate.

Mereo's pipeline includes investigational therapies for skeletal disorders, such as setrusumab (BPS-804) for osteogenesis imperfecta, and treatments for acute and chronic respiratory diseases.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.