Mereo BioPharma Group’s (MREO) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Mereo BioPharma Group (NASDAQ:MREO) in a research note published on Wednesday,Benzinga reports. Needham & Company LLC currently has a $7.00 price objective on the stock.

Several other research firms have also issued reports on MREO. Cantor Fitzgerald reissued an “overweight” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a research report on Tuesday, March 18th. Lifesci Capital initiated coverage on shares of Mereo BioPharma Group in a research report on Tuesday, December 24th. They set an “outperform” rating and a $10.00 price target on the stock. Finally, Jefferies Financial Group assumed coverage on shares of Mereo BioPharma Group in a research report on Friday, December 6th. They issued a “buy” rating and a $7.00 price objective for the company. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $7.71.

Mereo BioPharma Group Stock Down 4.6 %

NASDAQ MREO opened at $2.30 on Wednesday. Mereo BioPharma Group has a one year low of $2.22 and a one year high of $5.02. The stock’s 50-day moving average is $2.72 and its 200-day moving average is $3.49.

Mereo BioPharma Group (NASDAQ:MREO) last issued its quarterly earnings data on Wednesday, March 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). On average, equities research analysts forecast that Mereo BioPharma Group will post -0.03 EPS for the current year.

Institutional Trading of Mereo BioPharma Group

Large investors have recently bought and sold shares of the business. Acuta Capital Partners LLC boosted 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 acquiring an additional 583,700 shares in the last quarter. Fred Alger Management LLC raised its stake in Mereo BioPharma Group by 108.1% during the 3rd quarter. Fred Alger Management LLC now owns 102,582 shares of the company’s stock worth $422,000 after buying an additional 53,278 shares during the period. Janus Henderson Group PLC boosted its holdings in Mereo BioPharma Group by 56.7% in the third quarter. Janus Henderson Group PLC now owns 12,345,866 shares of the company’s stock worth $50,865,000 after acquiring an additional 4,464,984 shares in the last quarter. Polar Asset Management Partners Inc. increased its holdings in shares of Mereo BioPharma Group by 36.0% during the third quarter. Polar Asset Management Partners Inc. now owns 198,300 shares of the company’s stock valued at $815,000 after acquiring an additional 52,500 shares in the last quarter. Finally, State Street Corp acquired a new position in shares of Mereo BioPharma Group during the third quarter worth approximately $195,000. 62.83% of the stock is currently owned by institutional investors and hedge funds.

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.