Mereo BioPharma Group plc (NASDAQ:MREO) Receives $7.83 Consensus PT from Analysts

Shares of Mereo BioPharma Group plc (NASDAQ:MREO) have received an average rating of “Buy” from the seven brokerages that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $7.83.

Several analysts have recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Monday, January 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a research report on Tuesday. Jefferies Financial Group began coverage on Mereo BioPharma Group in a report on Friday, December 6th. They set a “buy” rating and a $7.00 price objective on the stock. Finally, Lifesci Capital assumed coverage on Mereo BioPharma Group in a research report on Tuesday, December 24th. They issued an “outperform” rating and a $10.00 target price for the company.

Mereo BioPharma Group Trading Down 0.8 %

Shares of Mereo BioPharma Group stock opened at $2.56 on Friday. Mereo BioPharma Group has a 52-week low of $2.25 and a 52-week high of $5.02. The company has a 50 day moving average of $2.81 and a 200 day moving average of $3.58.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MREO. GSA Capital Partners LLP acquired a new stake in shares of Mereo BioPharma Group during the third quarter worth $276,000. HealthInvest Partners AB purchased a new position in Mereo BioPharma Group during the 3rd quarter worth $822,000. Acuta Capital Partners LLC lifted its stake in shares of Mereo BioPharma Group by 86.2% in the 3rd quarter. Acuta Capital Partners LLC now owns 1,260,700 shares of the company’s stock worth $5,181,000 after acquiring an additional 583,700 shares during the period. Fred Alger Management LLC boosted its holdings in shares of Mereo BioPharma Group by 108.1% in the third quarter. Fred Alger Management LLC now owns 102,582 shares of the company’s stock valued at $422,000 after acquiring an additional 53,278 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Mereo BioPharma Group by 56.7% during the third quarter. Janus Henderson Group PLC now owns 12,345,866 shares of the company’s stock worth $50,865,000 after acquiring an additional 4,464,984 shares during the period. Institutional investors and hedge funds own 62.83% of the company’s stock.

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.