Mereo BioPharma Group (NASDAQ:MREO) Receives “Buy” Rating from BTIG Research

BTIG Research reaffirmed their buy rating on shares of Mereo BioPharma Group (NASDAQ:MREO – Get Rating) in a research note issued to investors on Friday, TipRanks reports. The brokerage currently has a $8.00 price target on the stock.

Several other equities analysts have also recently commented on MREO. SVB Leerink restated a buy rating and set a $8.00 target price on shares of Mereo BioPharma Group in a research report on Friday, April 1st. Zacks Investment Research upgraded Mereo BioPharma Group from a sell rating to a hold rating and set a $1.00 target price for the company in a research report on Friday, April 15th.

Shares of NASDAQ:MREO traded up $0.03 during mid-day trading on Friday, hitting $0.39. 1,011,350 shares of the company traded hands, compared to its average volume of 1,565,236. The stock has a 50-day moving average price of $0.95 and a two-hundred day moving average price of $1.38. Mereo BioPharma Group has a 12-month low of $0.30 and a 12-month high of $3.75. The company has a quick ratio of 7.92, a current ratio of 7.92 and a debt-to-equity ratio of 0.16.

Several institutional investors have recently bought and sold shares of the company. Morgan Stanley raised its stake in shares of Mereo BioPharma Group by 26.1% during the second quarter. Morgan Stanley now owns 55,591 shares of the company’s stock valued at $177,000 after acquiring an additional 11,520 shares in the last quarter. ProShare Advisors LLC bought a new position in Mereo BioPharma Group in the fourth quarter worth approximately $25,000. Clear Harbor Asset Management LLC bought a new position in Mereo BioPharma Group in the fourth quarter worth approximately $27,000. Oppenheimer & Co. Inc. bought a new position in Mereo BioPharma Group in the third quarter worth approximately $46,000. Finally, Bank of America Corp DE raised its stake in Mereo BioPharma Group by 74.5% in the fourth quarter. Bank of America Corp DE now owns 71,282 shares of the company’s stock worth $114,000 after buying an additional 30,442 shares in the last quarter. 77.39% of the stock is owned by hedge funds and other institutional investors.

Mereo BioPharma Group Company Profile (Get Rating)

Mereo BioPharma Group plc, a biopharmaceutical company, develops and commercializes therapeutics for the treatment of oncology and rare diseases in the United Kingdom and internationally. Its lead product candidate, etigilimab (OMP-313M32), an antibody T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial for the treatment of tumor.

Recommended Stories