Needham analyst Gil Blum maintained a Buy rating on Mereo Biopharma Group Plc (MREO – Research Report) today and set a price target of $7.00.
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Gil Blum has given his Buy rating due to a combination of factors that highlight Mereo Biopharma Group Plc’s promising outlook. The company has reported strong Phase II results, which provide a solid foundation for the upcoming Phase III Orbit study’s second interim analysis. The study’s increased statistical power and extended timeline for differentiation between treatment arms bolster confidence in positive outcomes.
Additionally, Mereo’s ongoing efforts in the Cosmic study, which investigates setrusumab in pediatric patients, are expected to yield results later this year. The company’s strategic initiatives, including seeking partnerships to advance the development of alvelestat in AATD, further strengthen its position. With a robust financial standing of $63 million, Mereo is well-equipped to sustain operations through 2027, reinforcing the Buy recommendation.
In another report released on April 24, LifeSci Capital also maintained a Buy rating on the stock with a $10.00 price target.