In a report released today, Cory Jubinville, PhD from LifeSci Capital maintained a Buy rating on Mereo Biopharma Group Plc (MREO – Research Report), with a price target of $10.00.
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Cory Jubinville, PhD has given his Buy rating due to a combination of factors surrounding Mereo Biopharma Group Plc’s strategic positioning and promising developments in their pipeline. The company’s involvement in the development of setrusumab, an anti-sclerostin monoclonal antibody, which is in Phase 3 trials, is a significant factor. This therapy is being investigated for its potential to address the unmet needs in osteogenesis imperfecta (OI), a condition with limited treatment options.
Moreover, Mereo Biopharma’s partnership with Ultragenyx, where Mereo retains European rights, positions them favorably in terms of potential revenue streams from royalties. The upcoming interim analysis and the final analysis by year-end are pivotal events that could further validate the efficacy of setrusumab, enhancing its market potential. Additionally, the company’s financial metrics, such as their cash burn rate and short interest, suggest a stable financial footing, supporting the Buy rating.
Jubinville, PhD covers the Healthcare sector, focusing on stocks such as Liquidia Technologies, Mereo Biopharma Group Plc, and Verve Therapeutics. According to TipRanks, Jubinville, PhD has an average return of -12.8% and a 29.76% success rate on recommended stocks.
In another report released on May 13, BTIG also maintained a Buy rating on the stock with a $6.00 price target.