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

Equities research analysts at StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIPGet Rating) in a report issued on Thursday. The firm set a “hold” rating on the stock.

Other equities analysts have also issued reports about the company. BTIG Research lowered their price target on MEI Pharma to $3.00 and set a “na” rating on the stock in a research note on Tuesday, May 24th. Alliance Global Partners reduced their price objective on MEI Pharma from $9.00 to $5.00 in a report on Wednesday, April 20th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $5.13.

MEI Pharma Trading Up 1.9 %

Shares of MEIP stock opened at $0.53 on Thursday. MEI Pharma has a 1-year low of $0.41 and a 1-year high of $3.55. The stock’s fifty day simple moving average is $0.55 and its 200-day simple moving average is $1.02.

MEI Pharma (NASDAQ:MEIPGet Rating) last issued its quarterly earnings results on Monday, May 23rd. The company reported ($0.17) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.17). MEI Pharma had a negative return on equity of 71.32% and a negative net margin of 62.40%. The business had revenue of $9.69 million for the quarter, compared to the consensus estimate of $6.25 million. Equities analysts predict that MEI Pharma will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. ProShare Advisors LLC lifted its stake in 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 purchasing an additional 9,796 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in MEI Pharma in the 4th quarter worth $30,000. Alps Advisors Inc. grew its holdings in MEI Pharma by 9.1% in the 4th quarter. Alps Advisors Inc. now owns 150,655 shares of the company’s stock worth $402,000 after acquiring an additional 12,556 shares during the last quarter. Sigma Planning Corp lifted its position in shares of MEI Pharma by 9.7% in the 4th quarter. Sigma Planning Corp now owns 158,350 shares of the company’s stock worth $423,000 after purchasing an additional 14,000 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in shares of MEI Pharma in the 4th quarter worth about $50,000. 60.18% of the stock is owned by institutional investors.

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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Analyst Recommendations for MEI Pharma (NASDAQ:MEIP)

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