MEI Pharma (MEIP) Shares Gap Up to $4.58

MEI Pharma Inc (NASDAQ:MEIP) shares gapped up prior to trading on Thursday . The stock had previously closed at $4.46, but opened at $4.58. MEI Pharma shares last traded at $4.68, with a volume of 28934 shares.

A number of research firms recently commented on MEIP. Zacks Investment Research cut MEI Pharma from a “buy” rating to a “hold” rating in a report on Thursday, April 12th. ValuEngine raised MEI Pharma from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Cann reissued a “buy” rating on shares of MEI Pharma in a report on Thursday, February 8th. Wells Fargo & Co raised MEI Pharma from a “market perform” rating to an “outperform” rating in a report on Wednesday. Finally, Laidlaw began coverage on MEI Pharma in a report on Thursday, April 12th. They issued a “buy” rating and a $7.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. MEI Pharma currently has a consensus rating of “Buy” and a consensus target price of $5.63.

The firm has a market capitalization of $154.89 million, a P/E ratio of 68.57 and a beta of 2.04.

MEI Pharma (NASDAQ:MEIP) last issued its quarterly earnings data on Wednesday, May 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.08. The business had revenue of $0.43 million for the quarter, compared to analysts’ expectations of $0.40 million. MEI Pharma had a negative return on equity of 60.75% and a negative net margin of 1,651.87%. research analysts forecast that MEI Pharma Inc will post -0.83 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of MEIP. Dimensional Fund Advisors LP purchased a new stake in shares of MEI Pharma during the 3rd quarter worth approximately $402,000. Deutsche Bank AG raised its holdings in shares of MEI Pharma by 43.1% during the 4th quarter. Deutsche Bank AG now owns 227,932 shares of the company’s stock worth $478,000 after acquiring an additional 68,691 shares in the last quarter. Sio Capital Management LLC raised its holdings in shares of MEI Pharma by 13.0% during the 1st quarter. Sio Capital Management LLC now owns 934,563 shares of the company’s stock worth $1,935,000 after acquiring an additional 107,650 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of MEI Pharma by 2.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,014,113 shares of the company’s stock worth $4,230,000 after acquiring an additional 49,906 shares in the last quarter. 22.72% 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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