Mereo BioPharma Group plc (NASDAQ:MREO) Receives Consensus Rating of “Buy” from Analysts

Shares of Mereo BioPharma Group plc (NASDAQ:MREO) have received a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $7.83.

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

Mereo BioPharma Group Trading Down 0.8 %

Shares of MREO opened at $2.56 on Friday. Mereo BioPharma Group has a 52-week low of $2.25 and a 52-week high of $5.02. The company has a 50-day simple moving average of $2.81 and a 200-day simple moving average of $3.58.

Hedge Funds Weigh In On Mereo BioPharma Group

Several hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its position in shares of Mereo BioPharma Group by 38.7% in the fourth quarter. Janus Henderson Group PLC now owns 17,122,563 shares of the company’s stock valued at $59,843,000 after acquiring an additional 4,776,697 shares in the last quarter. Rock Springs Capital Management LP raised its stake in Mereo BioPharma Group by 0.7% in the 4th quarter. Rock Springs Capital Management LP now owns 9,599,170 shares of the company’s stock valued at $33,597,000 after purchasing an additional 65,000 shares during the last quarter. Frazier Life Sciences Management L.P. lifted its holdings in Mereo BioPharma Group by 15.8% in the 3rd 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 in the last quarter. Acuta Capital Partners LLC boosted its stake in shares of Mereo BioPharma Group by 86.2% during the 3rd 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 purchased a new stake in shares of Mereo BioPharma Group during the fourth quarter worth about $3,377,000. 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.