In a report released today, Cory Jubinville, PhD from LifeSci Capital maintained a Buy rating on Mereo Biopharma Group Plc, with a price target of $9.00.
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Cory Jubinville, PhD has given his Buy rating due to a combination of factors surrounding Mereo Biopharma Group Plc’s current and future prospects. The company is on the verge of completing the final analysis of its Phase 3 Orbit study for setrusumab in treating osteogenesis imperfecta (OI), which is anticipated to be a significant milestone. The study’s design allows for a more lenient statistical threshold in the final analysis, potentially increasing the likelihood of achieving significant results.
Additionally, the extended treatment period enhances setrusumab’s efficacy by increasing bone mineral density and reducing fracture risk over time, which was observed in earlier phases of the study. The commercial potential for setrusumab is substantial, as it targets an unmet need in the market where current treatments offer limited efficacy. Moreover, Mereo’s financial position, with cash reserves expected to support operations into 2027, further supports the positive outlook for the company’s stock.
In another report released today, Needham also maintained a Buy rating on the stock with a $5.00 price target.