Leerink Partners analyst Joseph Schwartz reiterated a Buy rating on Mereo Biopharma Group Plc on August 12 and set a price target of $8.00.
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Joseph Schwartz has given his Buy rating due to a combination of factors related to Mereo Biopharma Group Plc’s strategic focus and promising developments in their lead programs. The company is advancing its efforts with setrusumab for osteogenesis imperfecta (OI), where the final analysis of ongoing Phase 3 studies is anticipated by the end of 2025. Despite not meeting the initial statistical threshold, setrusumab has shown an acceptable safety profile, and the continuation of the study suggests potential for positive outcomes, which could significantly impact the treatment landscape for OI if approved.
Furthermore, Mereo Biopharma is actively engaged in pre-commercial activities for setrusumab in the EU, aiming to support regulatory and health technology assessments. The company is also progressing with alvelestat for alpha-1-antitrypsin deficiency (AATD) lung disease, preparing for a global Phase 3 pivotal study. Their proactive approach in seeking development and commercialization partners for alvelestat further underscores the potential growth and value creation opportunities for the company, justifying the Buy rating.
In another report released on August 12, BTIG also maintained a Buy rating on the stock with a $6.00 price target.
MREO’s price has also changed dramatically for the past six months – from $2.900 to $1.660, which is a -42.76% drop .