Cantor Fitzgerald Comments on MREO FY2024 Earnings

Mereo BioPharma Group plc (NASDAQ:MREO) – Research analysts at Cantor Fitzgerald issued their FY2024 earnings estimates for Mereo BioPharma Group in a report released on Tuesday, January 21st. Cantor Fitzgerald analyst K. Kluska anticipates that the company will post earnings of ($0.06) per share for the year. Cantor Fitzgerald has a “Strong-Buy” rating on the stock. The consensus estimate for Mereo BioPharma Group’s current full-year earnings is ($0.02) per share.

A number of other brokerages have also recently issued reports on MREO. Jefferies Financial Group began coverage on Mereo BioPharma Group in a research note on Friday, December 6th. They set a “buy” rating and a $7.00 price objective for the company. Lifesci Capital initiated coverage on Mereo BioPharma Group in a research report on Tuesday, December 24th. They issued an “outperform” rating and a $10.00 price target for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a research note on Monday, January 13th. Four research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $7.83.

Mereo BioPharma Group Trading Down 2.3 %

MREO stock opened at $2.92 on Thursday. The firm has a 50 day moving average price of $3.50 and a 200-day moving average price of $3.97. Mereo BioPharma Group has a 52-week low of $2.80 and a 52-week high of $5.02.

Institutional Investors Weigh In On Mereo BioPharma Group

Several institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC lifted its stake in Mereo BioPharma Group by 56.7% during the 3rd quarter. Janus Henderson Group PLC now owns 12,345,866 shares of the company’s stock valued at $50,865,000 after acquiring an additional 4,464,984 shares during the period. Deerfield Management Company L.P. Series C purchased a new position in shares of Mereo BioPharma Group during the second quarter valued at approximately $24,158,000. Frazier Life Sciences Management L.P. lifted its position in Mereo BioPharma Group by 15.8% during the third quarter. Frazier Life Sciences Management L.P. now owns 5,097,779 shares of the company’s stock valued at $20,952,000 after purchasing an additional 696,408 shares during the period. Millennium Management LLC boosted its holdings in Mereo BioPharma Group by 46.9% in the second quarter. Millennium Management LLC now owns 3,201,705 shares of the company’s stock worth $11,526,000 after purchasing an additional 1,022,570 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Mereo BioPharma Group by 5.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,762,003 shares of the company’s stock worth $6,343,000 after purchasing an additional 89,694 shares during the period. 62.83% of the stock is owned by hedge funds and other institutional investors.

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.