Mereo BioPharma Group plc (NASDAQ:MREO) Given Consensus Recommendation of “Buy” by Analysts

Mereo BioPharma Group plc (NASDAQ:MREO) has earned an average recommendation of “Buy” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $7.83.

MREO has been the topic of a number of recent research reports. Lifesci Capital assumed coverage on Mereo BioPharma Group in a research report on Tuesday, December 24th. They set an “outperform” rating and a $10.00 price target on the stock. 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. Jefferies Financial Group initiated coverage on shares of Mereo BioPharma Group in a report on Friday, December 6th. They issued a “buy” rating and a $7.00 price target for the company. Finally, Cantor Fitzgerald upgraded shares of Mereo BioPharma Group to a “strong-buy” rating in a research note on Sunday, December 8th.

Mereo BioPharma Group Trading Down 0.5 %

Shares of NASDAQ MREO opened at $2.86 on Wednesday. Mereo BioPharma Group has a 52-week low of $2.78 and a 52-week high of $5.02. The stock has a 50 day moving average price of $3.21 and a 200 day moving average price of $3.81.

Institutional Investors Weigh In On Mereo BioPharma Group

Institutional investors have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of Mereo BioPharma Group during the 4th quarter valued at $37,000. Jump Financial LLC purchased a new stake in Mereo BioPharma Group in the fourth quarter valued at about $39,000. Sheets Smith Investment Management acquired a new stake in Mereo BioPharma Group in the fourth quarter worth about $59,000. Virtus ETF Advisers LLC purchased a new stake in shares of Mereo BioPharma Group during the fourth quarter worth about $67,000. Finally, Avanza Fonder AB acquired a new position in shares of Mereo BioPharma Group during the fourth quarter valued at about $69,000. 62.83% of the stock is currently owned by institutional investors and hedge funds.

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.