On May 26, 2023, Needham reaffirmed its coverage of Mereo Biopharma Group Plc – ADR (NASDAQ:MREO) with a Buy recommendation, according to Fintel.
The average one-year price target for MREO is 4.42, as of May 11, 2023. This is an increase of 313.08% from its latest reported closing price of 1.07. The highest price target is $5.25 while the lowest is 4.04.
Mereo Biopharma Group Plc – ADR is projected to make $0MM in annual revenue, which is a decrease of �%. The projected non-GAAP EPS is -0.01.
There are 71 funds or institutions reporting positions in Mereo Biopharma Group Plc – ADR, which is a decrease of 3 owner(s) or 4.05% in the last quarter. The average portfolio weight of all funds dedicated to MREO is 0.05%, a decrease of 13.36%.
Rubric Capital Management holds 10,366K shares or 8.31% ownership of MREO while Orbimed Advisors has 7,748K shares or 6.21% ownership of the company. Suvretta Capital Management holds 7,364K shares (5.90% ownership) and Rock Springs Capital Management has 6,245K shares (5.01% ownership) of MREO. Citadel Advisors holds 3,048K shares representing 2.44% ownership of the biopharma group.
Mereo BioPharma is a biopharmaceutical company that focuses on developing and commercializing innovative therapies for oncology and rare diseases. The company has developed a portfolio of six clinical-stage product candidates, including etigilimab (Anti-TIGIT), which recently advanced into an open-label Phase 1b/2 basket study. The company’s other product candidates include navicixizumab and two rare disease treatments: alvelestat and setrusumab.
The author’s views and opinions expressed herein are their own and do not necessarily reflect those of Nasdaq, Inc.