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

Mereo BioPharma Group plc (NASDAQ:MREO) has been assigned a consensus recommendation of “Buy” from the seven research firms that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $7.83.

Several equities analysts have recently weighed in on the company. Cantor Fitzgerald raised Mereo BioPharma Group to a “strong-buy” rating in a research report on Sunday, December 8th. Needham & Company LLC reissued a “buy” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research report on Monday, January 13th. Lifesci Capital began coverage on Mereo BioPharma Group in a research report on Tuesday, December 24th. They set an “outperform” rating and a $10.00 target price on the stock. Finally, 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 objective on the stock.

Mereo BioPharma Group Price Performance

NASDAQ MREO opened at $2.93 on Friday. The business’s 50 day moving average price is $3.46 and its 200-day moving average price is $3.94. Mereo BioPharma Group has a fifty-two week low of $2.80 and a fifty-two week high of $5.02.

Hedge Funds Weigh In On Mereo BioPharma Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC grew its position in shares of Mereo BioPharma Group by 56.7% during the 3rd quarter. Janus Henderson Group PLC now owns 12,345,866 shares of the company’s stock worth $50,865,000 after buying an additional 4,464,984 shares in the last quarter. Frazier Life Sciences Management L.P. grew its position in shares of Mereo BioPharma Group by 15.8% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 5,097,779 shares of the company’s stock worth $20,952,000 after buying an additional 696,408 shares in the last quarter. Millennium Management LLC grew its position in shares of Mereo BioPharma Group by 46.9% during the 2nd quarter. Millennium Management LLC now owns 3,201,705 shares of the company’s stock worth $11,526,000 after buying an additional 1,022,570 shares in the last quarter. Acuta Capital Partners LLC lifted 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, Perceptive Advisors LLC purchased a new stake in shares of Mereo BioPharma Group during the 2nd quarter worth $4,512,000. Institutional investors own 62.83% of the company’s stock.

About Mereo BioPharma Group

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.