In a report released on May 13, Joseph Schwartz from Leerink Partners reiterated a Buy rating on Mereo Biopharma Group Plc (MREO – Research Report), with a price target of $8.00.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Joseph Schwartz has given his Buy rating due to a combination of factors that highlight Mereo Biopharma Group Plc’s promising prospects. The company is making significant progress in its lead programs, particularly with setrusumab for osteogenesis imperfecta and alvelestat for alpha-1-antitrypsin deficiency lung disease. The ongoing Phase 3 studies for setrusumab are of particular interest, with expectations of positive data from the second interim analysis in mid-2025, which could accelerate filing timelines.
Furthermore, Mereo Biopharma is actively preparing for a commercial launch in the UK and EU, engaging with regulatory bodies and collecting real-world data. Financially, the company reported a manageable net loss and has a solid cash position expected to fund operations into 2027. These strategic and financial factors contribute to the positive outlook and support the Buy rating.
In another report released on May 13, Needham also maintained a Buy rating on the stock with a $7.00 price target.
MREO’s price has also changed dramatically for the past six months – from $4.050 to $2.320, which is a -42.72% drop .