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

Mereo BioPharma Group (NASDAQ:MREO) released its quarterly earnings results 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

Shares of NASDAQ MREO opened at $2.41 on Friday. The business has a fifty day moving average price of $2.73 and a two-hundred day moving average price of $3.51. Mereo BioPharma Group has a fifty-two week low of $2.22 and a fifty-two week high of $5.02.

Wall Street Analysts Forecast Growth

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