Mereo BioPharma Group plc (MREO) shares are trading at higher $3.19 and the avg recommendation for the stock is Strong Buy.
To add more color to this target, the company’s high over the last year is $4.27 and the low is $0.69. Over the last 52 weeks, MREO is down -25.28% while the S&P 500 is up 0.22%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. MREO has a short ratio of 1.22 and outstanding shares of 67.74M.
MREO has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.3 million and more growth is possible in the weeks ahead. Mereo BioPharma Group plc MREO also noted assets of $112.55 million at the end of the last quarter. Investors should also keep an eye on sector updates as MREO has historically followed its peers on positive news.
All told, Mereo BioPharma Group plc MREO has strung together solid data and demonstrated underlying fundamentals. At its current valuation, MREO represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Mereo BioPharma Group plc MREO is now commanding a market cap of 216.10M and a float of 22.02M. MREO is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of MREO stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in MREO, either long or short, and we have not been compensated for this article.