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.
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
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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