Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.03), Zacks reports.
Mereo BioPharma Group Stock Performance
Shares of MREO stock traded down $0.11 during midday trading on Friday, reaching $2.30. 867,534 shares of the company were exchanged, compared to its average volume of 1,006,163. The company's 50 day moving average price is $2.72 and its two-hundred day moving average price is $3.48. The company has a market cap of $356.84 million, a P/E ratio of -38.33 and a beta of 1.03. Mereo BioPharma Group has a 12 month low of $2.22 and a 12 month high of $5.02.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the company. JPMorgan Chase & Co. began coverage on Mereo BioPharma Group in a report on Thursday. They set an "overweight" rating and a $7.00 target price for the company. Jefferies Financial Group initiated coverage on Mereo BioPharma Group in a research note on Friday, December 6th. They set a "buy" rating and a $7.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research note on Wednesday. Lifesci Capital started coverage on shares of Mereo BioPharma Group in a research report on Tuesday, December 24th. They set an "outperform" rating and a $10.00 price target for the company. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, March 18th. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Mereo BioPharma Group has an average rating of "Buy" and an average target price of $7.71.
Check Out Our Latest Report on Mereo BioPharma Group
Mereo BioPharma Group Company Profile
(
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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.
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