Mereo BioPharma Group (NASDAQ:MREO) Posts Earnings Results, Misses Expectations By $0.03 EPS

Mereo BioPharma Group (NASDAQ:MREO) announced its quarterly earnings data on Wednesday. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03), Zacks reports.

Mereo BioPharma Group Stock Up 1.7 %

Shares of MREO stock opened at $2.41 on Friday. The stock has a fifty day moving average of $2.73 and a 200 day moving average of $3.51. Mereo BioPharma Group has a 52 week low of $2.22 and a 52 week high of $5.02.

Analyst Ratings Changes

Several analysts have weighed in on MREO shares. JPMorgan Chase & Co. began coverage on shares of Mereo BioPharma Group in a research note on Thursday. They issued an “overweight” rating and a $7.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research note on Tuesday, March 18th. Needham & Company LLC restated a “buy” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a research report on Wednesday. Jefferies Financial Group started coverage on 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. Finally, Lifesci Capital assumed coverage on shares of Mereo BioPharma Group in a report on Tuesday, December 24th. They issued an “outperform” rating and a $10.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $7.71.

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.