Analysts Set Mereo BioPharma Group plc (NASDAQ:MREO) PT at $7.83

Shares of Mereo BioPharma Group plc (NASDAQ:MREO) have earned a consensus recommendation of “Buy” from the seven research firms that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a buy rating and three have issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $7.83.

A number of research analysts have issued reports on the stock. Cantor Fitzgerald upgraded shares of Mereo BioPharma Group to a “strong-buy” rating in a report on Sunday, December 8th. Lifesci Capital started coverage on shares of Mereo BioPharma Group in a research note on Tuesday, December 24th. They set an “outperform” rating and a $10.00 price objective on the stock. Jefferies Financial Group started coverage on Mereo BioPharma Group in a report on Friday, December 6th. They issued a “buy” rating and a $7.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a report on Monday, January 13th.

Mereo BioPharma Group Stock Up 0.3 %

MREO opened at $2.92 on Friday. The business’s fifty day simple moving average is $3.48 and its 200 day simple moving average is $3.96. Mereo BioPharma Group has a 52 week low of $2.80 and a 52 week high of $5.02.

Institutional Investors Weigh In On Mereo BioPharma Group

Institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its stake in shares of Mereo BioPharma Group by 56.7% in the 3rd quarter. Janus Henderson Group PLC now owns 12,345,866 shares of the company’s stock valued at $50,865,000 after acquiring an additional 4,464,984 shares during the period. Frazier Life Sciences Management L.P. raised its position in Mereo BioPharma Group by 15.8% in the third quarter. Frazier Life Sciences Management L.P. now owns 5,097,779 shares of the company’s stock valued at $20,952,000 after purchasing an additional 696,408 shares during the period. Millennium Management LLC lifted its stake in shares of Mereo BioPharma Group by 46.9% during the second quarter. Millennium Management LLC now owns 3,201,705 shares of the company’s stock worth $11,526,000 after purchasing an additional 1,022,570 shares in the last quarter. Acuta Capital Partners LLC lifted its stake in shares of Mereo BioPharma Group by 86.2% during the third quarter. Acuta Capital Partners LLC now owns 1,260,700 shares of the company’s stock worth $5,181,000 after purchasing an additional 583,700 shares in the last quarter. Finally, Perceptive Advisors LLC acquired a new stake in shares of Mereo BioPharma Group in the second quarter valued at about $4,512,000. Hedge funds and other institutional investors 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.