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

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) has earned a consensus recommendation of “Hold” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $3.25.

A number of research analysts have weighed in on the company. Lifesci Capital raised Mereo BioPharma Group to a “hold” rating in a report on Thursday, March 19th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Mereo BioPharma Group in a report on Monday, March 23rd. BTIG Research reissued a “buy” rating and issued a $1.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, May 12th. Finally, Zacks Research downgraded Mereo BioPharma Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th.

Mereo BioPharma Group Stock Performance

MREO stock opened at $0.31 on Tuesday. Mereo BioPharma Group has a fifty-two week low of $0.20 and a fifty-two week high of $3.05. The business’s 50-day moving average is $0.30 and its two-hundred day moving average is $0.70. The company has a market cap of $48.68 million, a price-to-earnings ratio of -6.10 and a beta of 0.33.

Mereo BioPharma Group (NASDAQ:MREO) last posted its earnings results on Tuesday, May 12th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Equities analysts predict that Mereo BioPharma Group will post -0.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MREO. Goldman Sachs Group Inc. raised its stake in shares of Mereo BioPharma Group by 0.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company’s stock worth $4,783,000 after buying an additional 6,068 shares during the period. Woodline Partners LP grew its position in shares of Mereo BioPharma Group by 53.2% during the first quarter. Woodline Partners LP now owns 947,986 shares of the company’s stock worth $2,133,000 after purchasing an additional 329,202 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Mereo BioPharma Group by 62.6% during the first 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 purchasing an additional 604,200 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Mereo BioPharma Group during the second quarter worth about $188,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Mereo BioPharma Group during the second quarter worth about $804,000. Institutional investors 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.