Mereo BioPharma Group (NASDAQ:MREO) Now Covered by Analysts at JPMorgan Chase & Co.

Equities research analysts at JPMorgan Chase & Co. started coverage on shares of Mereo BioPharma Group (NASDAQ:MREO) in a research report issued to clients and investors on Thursday,Benzinga reports. The firm set an “overweight” rating and a $7.00 price target on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 195.36% from the stock’s current price.

A number of other analysts also recently issued reports on MREO. Needham & Company LLC reissued a “buy” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a report on Wednesday. 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a report on Tuesday, March 18th. Finally, Jefferies Financial Group initiated coverage on Mereo BioPharma Group in a report on Friday, December 6th. They issued a “buy” rating and a $7.00 price objective on the stock. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Mereo BioPharma Group presently has an average rating of “Buy” and a consensus target price of $7.71.

Mereo BioPharma Group Stock Up 0.9 %

Shares of MREO opened at $2.37 on Thursday. The business’s 50-day moving average is $2.74 and its two-hundred day moving average is $3.52. Mereo BioPharma Group has a fifty-two week low of $2.22 and a fifty-two week high of $5.02.

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

Hedge Funds Weigh In On Mereo BioPharma Group

Hedge funds have recently made changes to their positions in the company. State Street Corp purchased a new stake in shares of Mereo BioPharma Group during the third quarter worth approximately $195,000. Acuta Capital Partners LLC grew its holdings in shares of 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 buying an additional 583,700 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Mereo BioPharma Group by 56.7% during the third 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. raised its position in shares of Mereo BioPharma Group by 15.8% in the third quarter. Frazier Life Sciences Management L.P. now owns 5,097,779 shares of the company’s stock valued at $20,952,000 after buying an additional 696,408 shares during the last quarter. Finally, PFG Investments LLC lifted its stake in shares of Mereo BioPharma Group by 132.0% in the fourth quarter. PFG Investments LLC now owns 39,433 shares of the company’s stock worth $138,000 after buying an additional 22,433 shares in the last quarter. Institutional investors and hedge funds 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.