Analysts Issue Forecasts for MREO FY2024 Earnings

Mereo BioPharma Group plc (NASDAQ:MREO) – Investment analysts at Cantor Fitzgerald issued their FY2024 earnings per share estimates for shares of Mereo BioPharma Group in a report issued on Tuesday, January 21st. Cantor Fitzgerald analyst K. Kluska forecasts that the company will post earnings per share of ($0.06) for the year. Cantor Fitzgerald has a “Strong-Buy” rating on the stock. The consensus estimate for Mereo BioPharma Group’s current full-year earnings is ($0.03) per share.

Other equities analysts have also issued research reports about the company. Jefferies Financial Group assumed coverage on Mereo BioPharma Group in a research note on Friday, December 6th. They issued a “buy” rating and a $7.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Monday, January 13th. Finally, Lifesci Capital began coverage on shares of Mereo BioPharma Group in a research report on Tuesday, December 24th. They set an “outperform” rating and a $10.00 target price for the company. Four analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $7.83.

Mereo BioPharma Group Price Performance

MREO opened at $2.91 on Thursday. Mereo BioPharma Group has a 12 month low of $2.80 and a 12 month high of $5.02. The stock has a fifty day moving average price of $3.49 and a 200-day moving average price of $3.96.

Hedge Funds Weigh In On Mereo BioPharma Group

Several hedge funds have recently modified their holdings of the stock. Deerfield Management Company L.P. Series C purchased a new stake in Mereo BioPharma Group during the 2nd quarter worth approximately $24,158,000. Janus Henderson Group PLC grew its holdings 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 valued at $50,865,000 after buying an additional 4,464,984 shares during the last quarter. Frazier Life Sciences Management L.P. acquired a new position in shares of Mereo BioPharma Group in the 2nd quarter valued at $15,845,000. Perceptive Advisors LLC purchased a new position in Mereo BioPharma Group in the 2nd quarter worth $4,512,000. Finally, Marshall Wace LLP acquired a new stake in Mereo BioPharma Group during the 2nd quarter worth about $4,119,000. 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.