Laidlaw initiated coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research note issued to investors on Thursday, MarketBeat reports. The brokerage issued a buy rating and a $7.00 price target on the stock.
MEIP has been the topic of several other reports. Cann reaffirmed a buy rating and issued a $6.50 target price on shares of MEI Pharma in a research note on Thursday, December 21st. Oppenheimer set a $7.00 target price on shares of MEI Pharma and gave the stock a buy rating in a research note on Thursday, December 21st. Zacks Investment Research downgraded shares of MEI Pharma from a buy rating to a hold rating in a research note on Thursday. Finally, ValuEngine raised shares of MEI Pharma from a sell rating to a hold rating in a research note on Wednesday, February 7th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. MEI Pharma has a consensus rating of Buy and a consensus price target of $5.63.
Shares of NASDAQ MEIP opened at $2.04 on Thursday. MEI Pharma has a 52 week low of $1.50 and a 52 week high of $3.26. The firm has a market capitalization of $75.96, a P/E ratio of 29.14 and a beta of 1.91.
A number of institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC increased its position in MEI Pharma by 2.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,014,113 shares of the company’s stock valued at $4,230,000 after purchasing an additional 49,906 shares during the period. Deutsche Bank AG increased its position in MEI Pharma by 43.1% during the 4th quarter. Deutsche Bank AG now owns 227,932 shares of the company’s stock valued at $478,000 after purchasing an additional 68,691 shares during the period. Vanguard Group Inc. increased its position in MEI Pharma by 12.3% during the 2nd quarter. Vanguard Group Inc. now owns 740,580 shares of the company’s stock valued at $1,770,000 after purchasing an additional 81,308 shares during the period. Nationwide Fund Advisors purchased a new position in MEI Pharma during the 3rd quarter valued at $229,000. Finally, Macquarie Group Ltd. purchased a new position in MEI Pharma during the 3rd quarter valued at $306,000. 23.51% of the stock is currently owned by institutional investors and hedge funds.
MEI Pharma Company Profile
MEI Pharma, Inc, an oncology company, focuses on the clinical development of drugs for the treatment of cancer. The company's clinical drug candidate includes Pracinostat, an orally available histone deacetylase inhibitor for the treatment of patients with acute myeloid leukemia and myelodysplastic syndrome.
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