StockNews.com Begins Coverage on MEI Pharma (NASDAQ:MEIP)

Investment analysts at StockNews.com began coverage on shares of MEI Pharma (NASDAQ:MEIP – Get Rating) in a research report issued on Friday. The brokerage set a “hold” rating on the stock.

Other analysts also recently issued research reports about the company. BTIG Research downgraded MEI Pharma from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 6th. Jefferies Financial Group downgraded MEI Pharma from a “hold” rating to an “underperform” rating in a research report on Wednesday, February 8th. Truist Financial downgraded MEI Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, December 6th. Piper Sandler downgraded MEI Pharma from an “overweight” rating to a “neutral” rating in a research report on Friday, February 24th. Finally, HC Wainwright dropped their target price on MEI Pharma from $5.00 to $2.00 and set a “buy” rating for the company in a research report on Monday, February 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $2.43.

MEI Pharma Stock Up 2.4 %

Shares of NASDAQ MEIP opened at $0.26 on Friday. MEI Pharma has a 52 week low of $0.20 and a 52 week high of $1.94. The business has a 50-day simple moving average of $0.29 and a two-hundred day simple moving average of $0.34. The company has a market cap of $34.13 million, a P/E ratio of -1.11 and a beta of 1.03.

MEI Pharma (NASDAQ:MEIP – Get Rating) last issued its earnings results on Thursday, February 9th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.24. MEI Pharma had a negative return on equity of 88.33% and a negative net margin of 49.80%. The business had revenue of $32.74 million during the quarter, compared to the consensus estimate of $9.69 million. Equities research analysts anticipate that MEI Pharma will post -0.27 EPS for the current year.

Institutional Investors Weigh In On MEI Pharma

A number of large investors have recently added to or reduced their stakes in the company. Morgan Stanley grew its holdings in MEI Pharma by 61.0% in the 4th quarter. Morgan Stanley now owns 184,933 shares of the company’s stock worth $45,000 after acquiring an additional 70,083 shares during the last quarter. UBS Group AG grew its holdings in MEI Pharma by 115.0% in the 4th quarter. UBS Group AG now owns 132,684 shares of the company’s stock worth $32,000 after acquiring an additional 70,959 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of MEI Pharma by 50.4% during 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 in the last quarter. Vanguard Group Inc. boosted its stake in shares of MEI Pharma by 4.4% during 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 in the last quarter. Finally, Carlson Capital L P boosted its stake in shares of MEI Pharma by 4.5% during 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 in the last quarter. Institutional investors own 35.74% of the company’s stock.

About MEI Pharma

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MEI Pharma, Inc is a pharmaceutical company, which engages in the development of pharmaceutical compounds. Its products include Zandelisib, Voruciclib, and ME-344. The company was founded on December 1, 2000 and is headquartered in San Diego, CA.