MEI Pharma (NASDAQ:MEIP) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIPGet 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.

MEI Pharma (NASDAQ:MEIPGet Rating) last announced its quarterly earnings results on Thursday, September 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.06. The company had revenue of $11.41 million for the quarter, compared to analyst estimates of $7.92 million. MEI Pharma had a negative net margin of 98.17% and a negative return on equity of 115.15%. As a group, research analysts anticipate that MEI Pharma will post -0.47 earnings per share for the current year.

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

(Get Rating)

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.

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Analyst Recommendations for MEI Pharma (NASDAQ:MEIP)

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