Analyst Julian Harrison of BTIG maintained a Buy rating on Mereo Biopharma Group Plc, retaining the price target of $6.00.
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Julian Harrison has given his Buy rating due to a combination of factors that indicate a promising future for Mereo Biopharma Group Plc. The anticipation of positive results from the Phase 3 ORBIT trial, led by Ultragenyx, is a significant driver. This trial is expected to show a statistically significant benefit on fracture rates, supported by the differentiated safety profile and efficacy of setrusumab demonstrated in earlier phases. The concurrent disclosure of data from the Cosmic trial further strengthens the potential for success.
Moreover, Mereo Biopharma is actively preparing for the commercialization of setrusumab in Europe, where it holds majority rights, and stands to benefit from substantial royalties and milestone payments in the US. The large market opportunity for setrusumab, addressing unmet needs in osteogenesis imperfecta, and the company’s solid financial position with sufficient cash to fund operations into 2027, contribute to the positive outlook. These factors collectively underpin Julian Harrison’s Buy rating for Mereo Biopharma Group Plc.
According to TipRanks, Harrison is a 5-star analyst with an average return of 17.8% and a 48.44% success rate. Harrison covers the Healthcare sector, focusing on stocks such as Liquidia Technologies, Oruka Therapeutics, and Nektar Therapeutics.
In another report released yesterday, Needham also maintained a Buy rating on the stock with a $5.00 price target.