Brokerages Set Mereo BioPharma Group plc (NASDAQ:MREO) Target Price at $7.83

Mereo BioPharma Group plc (NASDAQ:MREO) has been assigned a consensus rating of “Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $7.83.

Several brokerages have recently weighed in on MREO. Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a research report on Tuesday, March 18th. Jefferies Financial Group began coverage on Mereo BioPharma Group in a research report on Friday, December 6th. They issued a “buy” rating and a $7.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a research report on Monday, January 13th. Finally, Lifesci Capital began coverage on Mereo BioPharma Group in a research report on Tuesday, December 24th. They issued an “outperform” rating and a $10.00 price target for the company.

Institutional Investors Weigh In On Mereo BioPharma Group

Several large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its stake in Mereo BioPharma Group by 38.7% during the fourth quarter. Janus Henderson Group PLC now owns 17,122,563 shares of the company’s stock valued at $59,843,000 after buying an additional 4,776,697 shares during the period. Rock Springs Capital Management LP lifted its stake in Mereo BioPharma Group by 0.7% during the fourth quarter. Rock Springs Capital Management LP now owns 9,599,170 shares of the company’s stock worth $33,597,000 after purchasing an additional 65,000 shares during the last quarter. Frazier Life Sciences Management L.P. lifted its stake in Mereo BioPharma Group by 15.8% during the third quarter. Frazier Life Sciences Management L.P. now owns 5,097,779 shares of the company’s stock worth $20,952,000 after purchasing an additional 696,408 shares during the last quarter. Acuta Capital Partners LLC lifted its stake in 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 during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Mereo BioPharma Group during the fourth quarter worth about $3,377,000. Institutional investors own 62.83% of the company’s stock.

Mereo BioPharma Group Price Performance

NASDAQ:MREO opened at $2.38 on Friday. The business has a fifty day simple moving average of $2.79 and a two-hundred day simple moving average of $3.56. Mereo BioPharma Group has a 1 year low of $2.25 and a 1 year high of $5.02.

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.