Mereo BioPharma Group (NASDAQ:MREO) Announces Quarterly Earnings Results

Mereo BioPharma Group (NASDAQ:MREO) released 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 Stock Performance

MREO opened at $2.37 on Thursday. The stock’s 50 day simple moving average is $2.74 and its 200 day simple moving average is $3.52. Mereo BioPharma Group has a 1 year low of $2.22 and a 1 year high of $5.02.

Analyst Upgrades and Downgrades

Several research firms recently commented on MREO. Jefferies Financial Group began coverage on Mereo BioPharma Group in a research report on Friday, December 6th. They set a “buy” rating and a $7.00 target price for the company. Lifesci Capital started coverage on Mereo BioPharma Group in a report on Tuesday, December 24th. They set an “outperform” rating and a $10.00 price objective for the company. 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 Wednesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, March 18th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $7.83.

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.