Mereo BioPharma Group (NASDAQ:MREO) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

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

Mereo BioPharma Group Trading Up 1.7 %

Shares of NASDAQ:MREO opened at $2.41 on Friday. Mereo BioPharma Group has a 52-week low of $2.22 and a 52-week high of $5.02. The company has a 50-day simple moving average of $2.73 and a 200 day simple moving average of $3.51.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MREO. Jefferies Financial Group started coverage on shares of Mereo BioPharma Group in a report on Friday, December 6th. They issued a “buy” rating and a $7.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on shares of Mereo BioPharma Group in a research report on Thursday. They set an “overweight” rating and a $7.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research note on Tuesday, March 18th. Lifesci Capital assumed coverage on Mereo BioPharma Group in a report on Tuesday, December 24th. They set an “outperform” rating and a $10.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a research note on Wednesday. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Mereo BioPharma Group presently has an average rating of “Buy” and a consensus price target of $7.71.

Mereo BioPharma Group Company Profile

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.