Equities research analysts at StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIP – Get Rating) in a note issued to investors on Friday. The brokerage set a “hold” rating on the stock.
Several other brokerages have also issued reports on MEIP. HC Wainwright reaffirmed a “buy” rating on shares of MEI Pharma in a report on Monday, September 12th. BTIG Research reduced their target price on shares of MEI Pharma to $2.00 in a report on Thursday, November 17th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, MEI Pharma currently has an average rating of “Hold” and an average price target of $2.86.
MEI Pharma Trading Up 1.7 %
Shares of MEI Pharma stock opened at $0.38 on Friday. The firm has a market capitalization of $51.03 million, a PE ratio of -0.96 and a beta of 0.83. The firm’s 50 day moving average is $0.37 and its 200 day moving average is $0.48. MEI Pharma has a 1 year low of $0.28 and a 1 year high of $3.55.
Institutional Investors Weigh In On MEI Pharma
Institutional investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP boosted its stake in shares of MEI Pharma by 50.4% in the 3rd quarter. Two Sigma Investments LP now owns 379,011 shares of the company’s stock valued at $147,000 after purchasing an additional 127,046 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of MEI Pharma by 4.4% in the 3rd quarter. Vanguard Group Inc. now owns 7,668,708 shares of the company’s stock valued at $2,965,000 after purchasing an additional 322,969 shares during the last quarter. Carlson Capital L P boosted its stake in shares of MEI Pharma by 4.5% in the 3rd quarter. Carlson Capital L P now owns 1,150,000 shares of the company’s stock valued at $445,000 after purchasing an additional 50,000 shares during the last quarter. Annandale Capital LLC bought a new stake in shares of MEI Pharma in the 3rd quarter valued at $39,000. Finally, Zacks Investment Management bought a new stake in shares of MEI Pharma in the 3rd quarter valued at $42,000. 35.80% of the stock is owned by institutional investors.
MEI Pharma Company Profile
MEI Pharma, Inc, a late-stage pharmaceutical company, focuses on the development and commercialization of various therapies for the treatment of cancer. The company develops Zandelisib, an oral phosphatidylinositol 3-kinase delta inhibitor that is in Phase III clinical trial for the treatment of patients with relapsed/refractory follicular lymphoma, as well as in Phase Ib multi-arm trial to treat B-cell malignancies; and Voruciclib, an oral cyclin-dependent kinase 9 inhibitor, which is in Phase Ib clinical trial for acute myeloid leukemia and B-cell malignancies.
- Get a free copy of the StockNews.com research report on MEI Pharma (MEIP)
- Institutional Support for Analog Devices Remains High
- Microsoft Shares: Is it Time to Back Up the Truck?
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
- Is the 60/40 Portfolio Mix Still in Vogue?
- Three CBD Stocks to Dominate a Budding Industry
Receive News & Ratings for MEI Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MEI Pharma and related companies with MarketBeat.com's FREE daily email newsletter.