Mereo BioPharma Group plc (NASDAQ:MREO) Receives $7.50 Consensus Target Price from Analysts

Shares of Mereo BioPharma Group plc (NASDAQ:MREOGet Free Report) have been assigned a consensus recommendation of “Buy” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $7.40.

MREO has been the subject of several recent analyst reports. Cantor Fitzgerald upgraded Mereo BioPharma Group to a “strong-buy” rating in a report on Sunday, December 8th. Needham & Company LLC reissued a “buy” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group assumed coverage on shares of Mereo BioPharma Group in a research note on Friday, December 6th. They issued a “buy” rating and a $7.00 price target on the stock.

Get Our Latest Stock Analysis on MREO

Institutional Investors Weigh In On Mereo BioPharma Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Frazier Life Sciences Management L.P. bought a new position in shares of Mereo BioPharma Group during the 2nd quarter worth approximately $15,845,000. Integral Health Asset Management LLC boosted its holdings in Mereo BioPharma Group by 86.8% during the second quarter. Integral Health Asset Management LLC now owns 1,775,000 shares of the company’s stock worth $6,390,000 after purchasing an additional 825,000 shares during the last quarter. Rubric Capital Management LP boosted its holdings in Mereo BioPharma Group by 12.9% during the second quarter. Rubric Capital Management LP now owns 15,307,347 shares of the company’s stock worth $55,106,000 after purchasing an additional 1,754,350 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new position in Mereo BioPharma Group in the second quarter valued at $24,158,000. Finally, Millennium Management LLC increased its stake in Mereo BioPharma Group by 46.9% in the 2nd quarter. Millennium Management LLC now owns 3,201,705 shares of the company’s stock valued at $11,526,000 after buying an additional 1,022,570 shares during the last quarter. Institutional investors and hedge funds own 62.83% of the company’s stock.

Mereo BioPharma Group Stock Performance

MREO opened at $3.73 on Friday. Mereo BioPharma Group has a 12 month low of $3.17 and a 12 month high of $5.02. The company has a fifty day simple moving average of $4.01 and a 200 day simple moving average of $4.01.

About Mereo BioPharma Group

(Get Free Report

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.

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Analyst Recommendations for Mereo BioPharma Group (NASDAQ:MREO)

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