Mereo BioPharma Group plc to Post Q4 2024 Earnings of $0.10 Per Share, Leerink Partnrs Forecasts (NASDAQ:MREO)

Mereo BioPharma Group plc (NASDAQ:MREO) – Equities researchers at Leerink Partnrs decreased their Q4 2024 EPS estimates for shares of Mereo BioPharma Group in a research report issued to clients and investors on Wednesday, June 19th. Leerink Partnrs analyst J. Schwartz now anticipates that the company will earn $0.10 per share for the quarter, down from their prior estimate of $0.16. The consensus estimate for Mereo BioPharma Group’s current full-year earnings is $0.03 per share.

Mereo BioPharma Group (NASDAQ:MREO) last announced its quarterly earnings data on Wednesday, May 15th. The company reported ($0.01) EPS for the quarter.

A number of other brokerages also recently issued reports on MREO. Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a report on Wednesday, June 12th. Needham & Company LLC increased their price target on shares of Mereo BioPharma Group from $6.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Baird R W upgraded shares of Mereo BioPharma Group to a “strong-buy” rating in a report on Thursday, June 13th. Robert W. Baird initiated coverage on shares of Mereo BioPharma Group in a report on Thursday, June 13th. They issued an “outperform” rating and a $8.00 price target for the company. Finally, SVB Leerink raised their target price on shares of Mereo BioPharma Group from $6.00 to $8.00 and gave the company an “outperform” rating in a report on Thursday, June 20th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $7.50.

Mereo BioPharma Group Trading Down 6.9 %

Shares of MREO opened at $3.50 on Monday. The company has a 50-day simple moving average of $3.27 and a 200-day simple moving average of $3.18. Mereo BioPharma Group has a 52-week low of $1.07 and a 52-week high of $4.50.

Insider Buying and Selling at Mereo BioPharma Group

In other Mereo BioPharma Group news, insider Alexandra Hughes-Wilson sold 100,432 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $2.97, for a total transaction of $298,283.04. Following the completion of the transaction, the insider now directly owns 32,568 shares in the company, valued at approximately $96,726.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mereo BioPharma Group

Several hedge funds have recently modified their holdings of MREO. Janus Henderson Group PLC acquired a new stake in shares of Mereo BioPharma Group during the 1st quarter worth about $16,949,000. Rubric Capital Management LP boosted its stake in shares of Mereo BioPharma Group by 16.7% during the 4th quarter. Rubric Capital Management LP now owns 13,552,997 shares of the company’s stock worth $31,307,000 after purchasing an additional 1,936,877 shares during the last quarter. abrdn plc acquired a new stake in shares of Mereo BioPharma Group during the 4th quarter worth about $3,583,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Mereo BioPharma Group during the 1st quarter worth about $3,274,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Mereo BioPharma Group during the 3rd quarter worth about $1,032,000. 62.83% of the stock is owned by institutional investors and hedge funds.

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.