Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Given Consensus Recommendation of “Hold” by Brokerages

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) has been assigned a consensus recommendation of “Hold” from the eight analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $3.25.

Several equities research analysts recently weighed in on the stock. Zacks Research raised shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Mereo BioPharma Group in a research note on Monday, March 23rd. BTIG Research restated a “buy” rating and set a $1.00 price target on shares of Mereo BioPharma Group in a research report on Tuesday, May 12th. Finally, Lifesci Capital raised shares of Mereo BioPharma Group to a “hold” rating in a research note on Thursday, March 19th.

Mereo BioPharma Group Stock Performance

Shares of MREO stock opened at $0.33 on Friday. Mereo BioPharma Group has a 1 year low of $0.20 and a 1 year high of $3.05. The firm has a market capitalization of $53.42 million, a PE ratio of -6.69 and a beta of 0.35. The stock has a fifty day moving average of $0.29 and a two-hundred day moving average of $0.49.

Mereo BioPharma Group (NASDAQ:MREO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Equities research analysts predict that Mereo BioPharma Group will post -0.02 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. Goldman Sachs Group Inc. boosted its stake in 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 purchasing an additional 6,068 shares in the last quarter. Woodline Partners LP raised its stake in shares of Mereo BioPharma Group by 53.2% in the 1st quarter. Woodline Partners LP now owns 947,986 shares of the company’s stock worth $2,133,000 after buying an additional 329,202 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Mereo BioPharma Group by 62.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,569,100 shares of the company’s stock worth $3,530,000 after buying an additional 604,200 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Mereo BioPharma Group in the second quarter valued at $188,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Mereo BioPharma Group in the second quarter valued at $804,000. 62.83% of the stock is currently owned by institutional investors and hedge funds.

About Mereo BioPharma Group

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.