Research Analysts Offer Predictions for MREO FY2024 Earnings

Mereo BioPharma Group plc (NASDAQ:MREO) – Research analysts at Cantor Fitzgerald issued their FY2024 earnings per share (EPS) estimates for shares of Mereo BioPharma Group in a note issued to investors 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 currently 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.

Several other research analysts also recently weighed in on MREO. Jefferies Financial Group began coverage on shares of Mereo BioPharma Group in a research report on Friday, December 6th. They issued a “buy” rating and a $7.00 price target on the stock. Lifesci Capital assumed coverage on Mereo BioPharma Group in a report on Tuesday, December 24th. They issued an “outperform” rating and a $10.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a report on Monday, January 13th. Four equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Mereo BioPharma Group presently has an average rating of “Buy” and an average price target of $7.83.

Mereo BioPharma Group Price Performance

MREO opened at $2.92 on Thursday. The company’s 50 day moving average is $3.50 and its 200 day moving average is $3.97. Mereo BioPharma Group has a 12-month low of $2.80 and a 12-month high of $5.02.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Rhumbline Advisers raised its holdings in Mereo BioPharma Group by 70.9% during the second quarter. Rhumbline Advisers now owns 6,958 shares of the company’s stock valued at $25,000 after acquiring an additional 2,887 shares during the period. GAMMA Investing LLC boosted its stake in shares of Mereo BioPharma Group by 58.1% in the third quarter. GAMMA Investing LLC now owns 10,693 shares of the company’s stock worth $44,000 after acquiring an additional 3,928 shares during the period. Avanza Fonder AB purchased a new stake in shares of Mereo BioPharma Group during the fourth quarter worth about $69,000. PFG Investments LLC raised its stake in Mereo BioPharma Group by 132.0% during the 4th quarter. PFG Investments LLC now owns 39,433 shares of the company’s stock valued at $138,000 after purchasing an additional 22,433 shares during the period. Finally, State Street Corp purchased a new position in Mereo BioPharma Group in the 3rd quarter worth approximately $195,000. Hedge funds and other institutional investors own 62.83% of the company’s stock.

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.