Q4 2024 EPS Estimates for Mereo BioPharma Group plc (NASDAQ:MREO) Decreased by Analyst

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

Other research analysts also recently issued research reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research note on Wednesday, June 12th. Baird R W raised Mereo BioPharma Group to a “strong-buy” rating in a research note on Thursday, June 13th. Robert W. Baird initiated coverage on Mereo BioPharma Group in a research note on Thursday, June 13th. They issued an “outperform” rating and a $8.00 price objective on the stock. Needham & Company LLC raised their price objective on Mereo BioPharma Group from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Finally, SVB Leerink increased their target price on Mereo BioPharma Group from $6.00 to $8.00 and gave the stock an “outperform” rating in a research report on Thursday. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Mereo BioPharma Group has an average rating of “Buy” and a consensus price target of $7.50.

Mereo BioPharma Group Price Performance

MREO stock opened at $3.98 on Monday. Mereo BioPharma Group has a fifty-two week low of $1.07 and a fifty-two week high of $4.50. The business’s 50-day moving average is $3.23 and its two-hundred day moving average is $3.16.

Mereo BioPharma Group (NASDAQ:MREO) last posted its earnings results on Wednesday, May 15th. The company reported ($0.01) earnings per share for the quarter.

Hedge Funds Weigh In On Mereo BioPharma Group

Several institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC purchased a new position in Mereo BioPharma Group during the 1st quarter valued at approximately $16,949,000. Knoll Capital Management LLC grew its holdings in Mereo BioPharma Group by 62.3% during the 1st quarter. Knoll Capital Management LLC now owns 260,470 shares of the company’s stock valued at $860,000 after buying an additional 100,000 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Mereo BioPharma Group during the 1st quarter valued at approximately $3,274,000. Index Fund Advisors Inc. purchased a new position in Mereo BioPharma Group during the 1st quarter valued at approximately $99,000. Finally, Advisors Preferred LLC purchased a new position in Mereo BioPharma Group during the 1st quarter valued at approximately $28,000. Hedge funds and other institutional investors own 62.83% of the company’s stock.

Insider Buying and Selling

In related news, insider Alexandra Hughes-Wilson sold 100,432 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $2.97, for a total transaction of $298,283.04. Following the completion of the sale, the insider now owns 32,568 shares in the company, valued at $96,726.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.13% of the stock is currently owned by company insiders.

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.