Mereo BioPharma Group (NASDAQ:MREO) Releases Quarterly Earnings Results, Misses Estimates 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 the consensus estimate of $0.02 by ($0.03), Zacks reports.

Mereo BioPharma Group Price Performance

NASDAQ MREO opened at $2.41 on Friday. The business has a 50 day simple moving average of $2.73 and a 200 day simple moving average of $3.51. Mereo BioPharma Group has a one year low of $2.22 and a one year high of $5.02.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MREO. Jefferies Financial Group started coverage on shares of Mereo BioPharma Group in a research note on Friday, December 6th. They issued a “buy” rating and a $7.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research note on Wednesday. JPMorgan Chase & Co. initiated coverage on shares of Mereo BioPharma Group in a research note on Thursday. They set an “overweight” rating and a $7.00 target price on the stock. Lifesci Capital started coverage on Mereo BioPharma Group in a research note on Tuesday, December 24th. They issued an “outperform” rating and a $10.00 price target for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, March 18th. 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, Mereo BioPharma Group currently has an average rating of “Buy” and an average price target of $7.71.

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.