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

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

Mereo BioPharma Group Trading Up 1.7 %

MREO stock opened at $2.41 on Friday. The company has a 50 day simple moving average of $2.73 and a 200 day simple moving average of $3.51. Mereo BioPharma Group has a 1 year low of $2.22 and a 1 year high of $5.02.

Analyst Ratings Changes

MREO has been the topic of a number of recent research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, March 18th. 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 Wednesday. JPMorgan Chase & Co. initiated coverage on Mereo BioPharma Group in a report on Thursday. They set an “overweight” rating and a $7.00 price target for the company. Lifesci Capital started 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, Jefferies Financial Group began coverage on shares of Mereo BioPharma Group in a research note on Friday, December 6th. They issued a “buy” rating and a $7.00 target price on the stock. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Mereo BioPharma Group presently has a consensus rating of “Buy” and an average 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.