Fintel reports that on December 6, 2024, Jefferies initiated coverage of Mereo BioPharma Group plc - Depositary Receipt () (NasdaqCM:MREO) with a Buy recommendation.
Analyst Price Forecast Suggests 111.64% Upside
As of December 3, 2024, the average one-year price target for Mereo BioPharma Group plc - Depositary Receipt () is $7.34/share. The forecasts range from a low of $6.06 to a high of $8.40. The average price target represents an increase of 111.64% from its latest reported closing price of $3.47 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Mereo BioPharma Group plc - Depositary Receipt () is 11MM, an increase of 965.90%. The projected annual non-GAAP EPS is -0.03.
What is the Fund Sentiment?
There are 91 funds or institutions reporting positions in Mereo BioPharma Group plc - Depositary Receipt (). This is an decrease of 2 owner(s) or 2.15% in the last quarter. Average portfolio weight of all funds dedicated to MREO is 0.28%, an increase of 19.72%. Total shares owned by institutions increased in the last three months by 5.18% to 106,813K shares. 
The put/call ratio of MREO is 0.27, indicating a bullish outlook.
What are Other Shareholders Doing?
Rubric Capital Management holds 15,307K shares. No change in the last quarter.
Janus Henderson Group holds 12,346K shares. In its prior filing, the firm reported owning 7,881K shares , representing an increase of 36.17%. The firm increased its portfolio allocation in MREO by 71.12% over the last quarter.
Adage Capital Partners Gp, L.l.c. holds 9,715K shares. In its prior filing, the firm reported owning 11,791K shares , representing a decrease of 21.37%. The firm decreased its portfolio allocation in MREO by 10.30% over the last quarter.
Rock Springs Capital Management holds 9,534K shares. In its prior filing, the firm reported owning 9,283K shares , representing an increase of 2.63%. The firm increased its portfolio allocation in MREO by 26.73% over the last quarter.
Mangrove Partners holds 8,730K shares. In its prior filing, the firm reported owning 8,753K shares , representing a decrease of 0.27%. The firm increased its portfolio allocation in MREO by 27.63% over the last quarter.
Mereo Biopharma Group Background Information
(This description is provided by the company.)
Mereo BioPharma is a biopharmaceutical company focused on the development and commercialization of innovative therapeutics that aim to improve outcomes for oncology and rare diseases. The Company has developed a portfolio of six clinical stage product candidates. Mereo's lead oncology product candidate, etigilimab (Anti-TIGIT), has recently advanced into an open label Phase 1b/2 basket study evaluating Anti-TIGIT in combination with an anti-PD-1 in a range of tumor types including three rare tumors and a number of gynecological carcinomas including cervical and endometrial carcinomas. The Company's second oncology product, navicixizumab, for the treatment of late line ovarian cancer, has completed a Phase 1 study and has been partnered with OncXerna Therapeutics, Inc., formerly Oncologie, Inc. The Company has two rare disease product candidates: alvelestat for the treatment of severe Alpha-1 antitrypsin deficiency (AATD), which is being investigated in an ongoing Phase 2 proof-of-concept study in the U.S. and Europe, for which the Company expects to report top line data in the second half of 2021, and setrusumab for the treatment of osteogenesis imperfecta (OI). In September 2020, the FDA granted Rare Pediatric Disease designation to setrusumab for the treatment of OI. Following the completion of the Company's Phase 2b ASTEROID study, the Company met with both the FDA and the European Medicines Agency (EMA) to discuss the principles of a design of a single Phase 2/3 registrational pediatric study in OI. In December 2020, the Company signed a license and collaboration agreement for setrusumab in OI with Ultragenyx Pharmaceutical Inc.
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