MEI Pharma (NASDAQ:MEIP) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIPGet Rating) in a research note issued to investors on Thursday. The firm set a “hold” rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. Alliance Global Partners reduced their price objective on MEI Pharma from $9.00 to $5.00 in a research note on Wednesday, April 20th. BTIG Research cut their price target on MEI Pharma to $3.00 and set a “na” rating for the company in a research note on Tuesday, May 24th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, MEI Pharma presently has a consensus rating of “Hold” and an average target price of $5.13.

MEI Pharma Stock Performance

MEIP stock opened at $0.53 on Thursday. The business has a 50 day moving average price of $0.55 and a 200 day moving average price of $1.02. MEI Pharma has a fifty-two week low of $0.41 and a fifty-two week high of $3.55.

MEI Pharma (NASDAQ:MEIPGet Rating) last posted its earnings results on Monday, May 23rd. The company reported ($0.17) earnings per share for the quarter, hitting the consensus estimate of ($0.17). The firm had revenue of $9.69 million during the quarter, compared to analysts’ expectations of $6.25 million. MEI Pharma had a negative return on equity of 71.32% and a negative net margin of 62.40%. Analysts forecast that MEI Pharma will post -0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On MEI Pharma

Large investors have recently added to or reduced their stakes in the business. Eagle Asset Management Inc. purchased a new position in shares of MEI Pharma in the 4th quarter worth about $30,000. Lazard Asset Management LLC acquired a new stake in MEI Pharma during the 4th quarter valued at approximately $50,000. ProShare Advisors LLC grew its position in shares of MEI Pharma by 70.5% in the 4th quarter. ProShare Advisors LLC now owns 23,688 shares of the company’s stock worth $63,000 after acquiring an additional 9,796 shares in the last quarter. GSA Capital Partners LLP grew its position in shares of MEI Pharma by 111.0% in the 1st quarter. GSA Capital Partners LLP now owns 60,923 shares of the company’s stock worth $37,000 after acquiring an additional 32,050 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of MEI Pharma in the 2nd quarter worth approximately $46,000. 60.18% of the stock is currently owned by hedge funds and other 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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