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

StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIP – Get Rating) in a research report report published on Tuesday. The firm issued a hold rating on the stock.

A number of other brokerages have also issued reports on MEIP. Alliance Global Partners decreased their target price on shares of MEI Pharma from $9.00 to $5.00 in a research report on Wednesday, April 20th. BTIG Research decreased their target price on shares of MEI Pharma from $11.00 to $4.00 and set a buy rating for the company in a research report on Friday, March 25th. Stifel Nicolaus lowered shares of MEI Pharma from a buy rating to a hold rating and decreased their target price for the company from $6.00 to $2.00 in a research report on Friday, March 25th. HC Wainwright decreased their target price on shares of MEI Pharma from $10.00 to $5.00 and set a buy rating for the company in a research report on Friday, March 25th. Finally, Wells Fargo & Company lowered shares of MEI Pharma from an overweight rating to an equal weight rating and decreased their target price for the company from $13.00 to $2.00 in a research report on Friday, March 25th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, MEI Pharma presently has a consensus rating of Hold and a consensus target price of $4.97.

MEIP stock opened at $0.52 on Tuesday. The stock has a market capitalization of $68.86 million, a price-to-earnings ratio of -0.88 and a beta of 1.28. MEI Pharma has a 1 year low of $0.48 and a 1 year high of $3.55. The stock’s fifty day moving average is $0.92 and its two-hundred day moving average is $1.93.

MEI Pharma (NASDAQ:MEIP – Get Rating) last issued its quarterly earnings data on Thursday, February 10th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. The business had revenue of $18.22 million for the quarter, compared to analysts’ expectations of $7.62 million. MEI Pharma had a negative net margin of 123.86% and a negative return on equity of 83.20%. Analysts predict that MEI Pharma will post -0.54 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Bioimpact Capital LLC bought a new position in shares of MEI Pharma during the 4th quarter valued at about $32,977,000. Wasatch Advisors Inc. lifted its stake in MEI Pharma by 47.4% during the fourth quarter. Wasatch Advisors Inc. now owns 9,342,310 shares of the company’s stock valued at $24,944,000 after buying an additional 3,002,576 shares in the last quarter. BlackRock Inc. lifted its stake in MEI Pharma by 2.7% during the first quarter. BlackRock Inc. now owns 6,867,423 shares of the company’s stock valued at $4,138,000 after buying an additional 177,552 shares in the last quarter. Vanguard Group Inc. lifted its stake in MEI Pharma by 8.3% during the first quarter. Vanguard Group Inc. now owns 6,245,990 shares of the company’s stock valued at $3,763,000 after buying an additional 476,251 shares in the last quarter. Finally, Anson Funds Management LP lifted its stake in MEI Pharma by 23.4% during the first quarter. Anson Funds Management LP now owns 3,449,809 shares of the company’s stock valued at $2,079,000 after buying an additional 653,299 shares in the last quarter. Institutional investors own 60.18% of the company’s stock.

About MEI Pharma (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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