Mereo Biopharma Group Plc (MREO – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Cory Jubinville, PhD from LifeSci Capital maintained a Buy rating on the stock and has a $10.00 price target.
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Cory Jubinville, PhD has given his Buy rating due to a combination of factors surrounding Mereo Biopharma Group Plc’s ongoing clinical developments and market positioning. The company’s Phase 3 Orbit study for setrusumab in treating osteogenesis imperfecta (OI) is approaching its second interim analysis, which is anticipated to have a higher likelihood of achieving statistical significance compared to the first interim analysis. This is due to both biological and statistical reasons, including the potential for deeper efficacy with prolonged treatment and the diminishing impact of previous bisphosphonate exposure.
Furthermore, the lack of approved therapies for OI and the promising results from Phase 2 trials bolster the potential success of setrusumab. The study’s design, which includes multiple interim analyses, offers opportunities to expedite the availability of the drug to patients, enhancing its market potential. Despite the risks associated with variability in fracture rates among patients, the robust placebo-controlled study design strengthens the confidence in the trial’s outcomes. These factors collectively contribute to the positive outlook and Buy rating for Mereo Biopharma’s stock.