Mereo BioPharma assumed with a Buy at BTIG

BTIG analyst Julian Harrison assumed coverage of Mereo BioPharma with a Buy rating and $4 price target. Mereo has three clinical stage assets that are approaching “important inflection points,” says the analyst, who sees the most near-term upside potential from setrusumab, which is expected to have new Phase 2 osteogenesis imperfecta, or OI, data at the upcoming American Society for Bone and Mineral Research annual meeting on October 14. This data could “significantly de-risk the ongoing pivotal development,” the analyst tells investors ahead of this weekend’s event.