Mereo BioPharma Group (NASDAQ:MREO) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Mereo BioPharma Group (NASDAQ:MREO) posted its quarterly earnings results on Wednesday. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03), Zacks reports.

Mereo BioPharma Group Price Performance

Shares of NASDAQ MREO opened at $2.41 on Friday. Mereo BioPharma Group has a 1-year low of $2.22 and a 1-year high of $5.02. The business’s 50 day moving average is $2.73 and its two-hundred day moving average is $3.51.

Analyst Ratings Changes

A number of brokerages recently commented on MREO. Lifesci Capital assumed coverage on Mereo BioPharma Group in a report on Tuesday, December 24th. They set an “outperform” rating and a $10.00 target price for the company. JPMorgan Chase & Co. initiated coverage on shares of Mereo BioPharma Group in a research report on Thursday. They set an “overweight” rating and a $7.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, March 18th. Needham & Company LLC reiterated a “buy” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research note on Wednesday. Finally, Jefferies Financial Group assumed coverage on Mereo BioPharma Group in a research report on Friday, December 6th. They set a “buy” rating and a $7.00 price objective for the company. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Mereo BioPharma Group currently has an average rating of “Buy” and an average target price of $7.71.

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.