Mereo BioPharma Group (NASDAQ:MREO) Issues Quarterly Earnings Results

Mereo BioPharma Group (NASDAQ:MREO) issued its quarterly earnings results on Wednesday. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03), Zacks reports.

Mereo BioPharma Group Stock Performance

Shares of MREO opened at $2.35 on Wednesday. Mereo BioPharma Group has a 12 month low of $2.25 and a 12 month high of $5.02. The company has a 50-day moving average price of $2.76 and a two-hundred day moving average price of $3.52.

Analyst Ratings Changes

Several equities analysts recently commented on MREO shares. Jefferies Financial Group assumed coverage on shares of Mereo BioPharma Group in a research note on Friday, December 6th. They set a “buy” rating and a $7.00 target price for the company. Lifesci Capital began coverage on shares of Mereo BioPharma Group in a research report on Tuesday, December 24th. They set an “outperform” rating and a $10.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research report on Tuesday, March 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a report on Monday, January 13th. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Mereo BioPharma Group has a consensus rating of “Buy” and an average price target of $7.83.

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.