What is Leerink Partnrs’ Forecast for MREO FY2024 Earnings?

Mereo BioPharma Group plc (NASDAQ:MREO) – Stock analysts at Leerink Partnrs issued their FY2024 EPS estimates for Mereo BioPharma Group in a research report issued on Monday, November 18th. Leerink Partnrs analyst J. Schwartz anticipates that the company will post earnings of $0.06 per share for the year. Leerink Partnrs also issued estimates for Mereo BioPharma Group’s Q4 2024 earnings at $0.10 EPS and FY2025 earnings at $0.01 EPS.

A number of other research analysts also recently commented on MREO. Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a report on Tuesday, October 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a report on Tuesday, November 12th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $7.50.

Mereo BioPharma Group Stock Performance

Mereo BioPharma Group stock opened at $3.58 on Thursday. The stock’s fifty day moving average is $4.18 and its two-hundred day moving average is $3.95. Mereo BioPharma Group has a 1-year low of $3.17 and a 1-year high of $5.02.

Insider Activity

In other Mereo BioPharma Group news, General Counsel Charles Sermon sold 9,980 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $4.47, for a total transaction of $44,610.60. Following the completion of the sale, the general counsel now directly owns 240,007 shares of the company’s stock, valued at approximately $1,072,831.29. This trade represents a 3.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christine Ann Fox sold 9,128 shares of Mereo BioPharma Group stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $4.47, for a total transaction of $40,802.16. Following the completion of the transaction, the chief financial officer now owns 108,443 shares in the company, valued at approximately $484,740.21. This trade represents a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 52,931 shares of company stock valued at $236,602. Insiders own 4.13% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers boosted its holdings in Mereo BioPharma Group by 70.9% in the 2nd quarter. Rhumbline Advisers now owns 6,958 shares of the company’s stock valued at $25,000 after purchasing an additional 2,887 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Mereo BioPharma Group by 58.1% in the third quarter. GAMMA Investing LLC now owns 10,693 shares of the company’s stock valued at $44,000 after buying an additional 3,928 shares in the last quarter. SG Americas Securities LLC acquired a new position in Mereo BioPharma Group during the first quarter worth $54,000. BNP Paribas Financial Markets grew its holdings in Mereo BioPharma Group by 581,066.7% during the first quarter. BNP Paribas Financial Markets now owns 17,435 shares of the company’s stock worth $58,000 after acquiring an additional 17,432 shares during the period. Finally, State Street Corp purchased a new position in Mereo BioPharma Group in the third quarter worth $195,000. 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.