Cantor Fitzgerald analyst Kristen Kluska lowered the firm’s price target on Mereo BioPharma (MREO) to $3 from $6 and keeps an Overweight rating on the shares after the company announced that neither of the Phase 3 Orbit and Cosmic studies for setrusumab in Osteogenesis Imperfecta achieved statistical significance against their primary endpoints.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MREO:
- Morning News Wrap-Up: Monday’s Biggest Stock Market Stories!
- Mereo Biopharma Stock (MREO) Collapses over 90% after Failed Trials
- Mereo Biopharma Updates Setrusumab Trials and Cost Controls
- Mereo BioPharma Group trading resumes
- Mereo says Phase 3 Orbit, Cosmic studies do not achieve primary endpoints