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

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

Mereo BioPharma Group Stock Down 0.2 %

Shares of NASDAQ:MREO opened at $2.35 on Wednesday. The stock’s 50 day moving average is $2.76 and its 200-day moving average is $3.52. Mereo BioPharma Group has a twelve month low of $2.25 and a twelve month high of $5.02.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a research report on Tuesday, March 18th. Lifesci Capital started coverage on Mereo BioPharma Group in a research note on Tuesday, December 24th. They issued an “outperform” rating and a $10.00 price target for the company. Jefferies Financial Group assumed coverage on shares of Mereo BioPharma Group in a research note on Friday, December 6th. They issued a “buy” rating and a $7.00 price objective on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research report on Monday, January 13th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Mereo BioPharma Group presently has a consensus rating of “Buy” and an average target price of $7.83.

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.