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

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

Mereo BioPharma Group Stock Up 1.7 %

Mereo BioPharma Group stock opened at $2.41 on Friday. Mereo BioPharma Group has a one year low of $2.22 and a one year high of $5.02. The business’s fifty day moving average is $2.73 and its 200 day moving average is $3.51.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MREO shares. JPMorgan Chase & Co. assumed coverage on Mereo BioPharma Group in a research note on Thursday. They issued an “overweight” rating and a $7.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research report on Wednesday. Cantor Fitzgerald reissued 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 shares of Mereo BioPharma Group in a report on Tuesday, December 24th. They issued an “outperform” rating and a $10.00 price objective on the stock. Finally, Jefferies Financial Group started coverage on shares of Mereo BioPharma Group in a report on Friday, December 6th. They set a “buy” rating and a $7.00 target price for the company. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price 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.