Cantor Fitzgerald Reaffirms “Overweight” Rating for Mereo BioPharma Group (NASDAQ:MREO)

Mereo BioPharma Group (NASDAQ:MREO)‘s stock had its “overweight” rating restated by stock analysts at Cantor Fitzgerald in a report released on Tuesday,Benzinga reports. They presently have a $7.00 target price on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 171.32% from the stock’s current price.

Several other equities research analysts have also recently issued reports on MREO. Lifesci Capital assumed 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 objective for the company. Jefferies Financial Group assumed coverage on shares of Mereo BioPharma Group in a research report on Friday, December 6th. They set a “buy” rating and a $7.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Monday, January 13th. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Mereo BioPharma Group presently has a consensus rating of “Buy” and an average price target of $7.83.

Mereo BioPharma Group Price Performance

NASDAQ:MREO opened at $2.58 on Tuesday. The company’s 50-day moving average price is $2.83 and its 200-day moving average price is $3.59. Mereo BioPharma Group has a twelve month low of $2.25 and a twelve month high of $5.02.

Institutional Investors Weigh In On Mereo BioPharma Group

Institutional investors have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. acquired a new stake in shares of Mereo BioPharma Group during the fourth quarter valued at about $37,000. Jump Financial LLC acquired a new stake in shares of Mereo BioPharma Group during the fourth quarter valued at about $39,000. Sheets Smith Investment Management acquired a new stake in shares of Mereo BioPharma Group during the fourth quarter valued at about $59,000. Virtus ETF Advisers LLC acquired a new position in shares of Mereo BioPharma Group in the fourth quarter valued at approximately $67,000. Finally, Avanza Fonder AB acquired a new position in shares of Mereo BioPharma Group in the fourth quarter valued at approximately $69,000. 62.83% of the stock is currently owned by institutional investors and hedge funds.

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.