Mereo BioPharma: Buy Rating Despite No Early Study Completion Of Setrusumab For OI
Mereo BioPharma Group plc's phase 3 ORBIT study for setrusumab in osteogenesis imperfecta will continue to final analysis, expected by end of 2025. The recent 35% MREO stock drop was due to not meeting early efficacy stopping criteria of ORBIT, not due to safety or trial failure. The ongoing phase 2/3 ORBIT study is targeting OI patients ages 5 to 25, while the phase 3 COSMIC trial is going after patients ages 2 to < 7 years.
MEREO BIOPHARMA (MREO) Upgraded to Buy: What Does It Mean for the Stock?
MEREO BIOPHARMA (MREO) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Mereo BioPharma: Setrusumab Chugs Along With Possible Inflection Points
Mereo BioPharma Group plc's setrusumab shows promise in treating osteogenesis imperfecta, with phase 3 studies fully enrolled and potential for multiple catalysts in 2025. Positive 14-month data from the phase 2/3 ORBIT study indicates a significant reduction in fracture rates, bolstering confidence in ongoing phase 3 trials. Financially stable with $87.4 million in cash, Mereo aims to secure a partner for Alvelestat's phase 3 trial, potentially boosting stock value.
Equities Analysts Offer Predictions for Mereo BioPharma Group plc’s Q2 2024 Earnings (NASDAQ:MREO)
Mereo BioPharma Group plc (NASDAQ:MREO – Free Report) – Equities researchers at Leerink Partnrs issued their Q2 2024 earnings per share estimates for shares of Mereo BioPharma Group in a report released on Wednesday, May 15th. Leerink Partnrs analyst J. Schwartz forecasts that the company will earn ($0.01) per share for the quarter. The consensus estimate for Mereo BioPharma Group’s current full-year earnings is $0.03 per share. Leerink Partnrs also issued estimates for Mereo BioPharma Group’s Q3 2024 earnings at ($0.01) EPS, Q4 2024 earnings at $0.16 EPS and FY2025 earnings at $0.03 EPS. MREO has been the subject of a number of other research reports. Cantor Fitzgerald restated an “overweight” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Thursday. Needham & Company LLC restated a “buy” rating and set a $6.00 price objective on shares of Mereo BioPharma Group in a research report on Thursday. Get Our Latest Report on Mereo BioPharma Group Mereo BioPharma Group Stock Performance Shares of Mereo BioPharma Group stock opened at $3.20 on Monday. The business has a 50-day moving average price of $3.04 and a 200-day moving average price of $2.90. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.72 and a current ratio of 6.72. Mereo BioPharma Group has a twelve month low of $0.92 and a twelve month high of $4.36. Institutional Trading of Mereo BioPharma Group Institutional investors have recently added to or reduced their stakes in the company. Advisors Preferred LLC bought a new stake in Mereo BioPharma Group in the first quarter worth about $28,000. SG Americas Securities LLC bought a new stake in Mereo BioPharma Group in the first quarter worth about $54,000. BNP Paribas Financial Markets lifted its stake in Mereo BioPharma Group by 581,066.7% in the first quarter. BNP Paribas Financial Markets now owns 17,435 shares of the company’s stock worth $58,000 after purchasing an additional 17,432 shares during the last quarter. Golden State Equity Partners lifted its stake in Mereo BioPharma Group by 41.0% in the fourth quarter. Golden State Equity Partners now owns 20,300 shares of the company’s stock worth $47,000 after purchasing an additional 5,900 shares during the last quarter. Finally, Index Fund Advisors Inc. bought a new stake in Mereo BioPharma Group in the first quarter worth about $99,000. Institutional investors own 62.83% of the company’s stock. About Mereo BioPharma Group (Get Free Report) 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.
