ValuEngine Lowers MEI Pharma (NASDAQ:MEIP) to Hold

ValuEngine cut shares of MEI Pharma (NASDAQ:MEIP) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, ValuEngine reports.

Several other research analysts have also commented on the stock. HC Wainwright set a $126.00 price target on shares of AnaptysBio and gave the company a buy rating in a report on Monday, June 24th. Zacks Investment Research lowered shares of W. R. Grace & Co from a buy rating to a hold rating in a research note on Wednesday, May 1st. Finally, Oppenheimer set a $13.00 price target on shares of Alpine Immune Sciences and gave the stock a buy rating in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $8.05.

MEIP opened at $2.09 on Tuesday. The business has a 50 day moving average of $2.60. MEI Pharma has a 1 year low of $1.82 and a 1 year high of $4.80. The firm has a market capitalization of $155.41 million, a PE ratio of -2.82 and a beta of 1.73.

MEI Pharma (NASDAQ:MEIP) last released its earnings results on Thursday, May 9th. The company reported ($0.17) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.17). MEI Pharma had a negative net margin of 1,443.85% and a negative return on equity of 88.85%. The business had revenue of $1.25 million for the quarter, compared to analysts’ expectations of $1.01 million. Sell-side analysts anticipate that MEI Pharma will post -0.53 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of MEIP. Perceptive Advisors LLC purchased a new position in MEI Pharma during the 4th quarter valued at about $11,617,000. Wasatch Advisors Inc. raised its stake in shares of MEI Pharma by 52.2% in the first quarter. Wasatch Advisors Inc. now owns 1,109,571 shares of the company’s stock valued at $3,406,000 after purchasing an additional 380,531 shares in the last quarter. Macquarie Group Ltd. raised its stake in MEI Pharma by 55.8% during the fourth quarter. Macquarie Group Ltd. now owns 600,000 shares of the company’s stock worth $1,584,000 after acquiring an additional 215,000 shares in the last quarter. BlackRock Inc. raised its stake in MEI Pharma by 16.7% during the fourth quarter. BlackRock Inc. now owns 588,633 shares of the company’s stock worth $1,554,000 after acquiring an additional 84,321 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its stake in MEI Pharma by 20.0% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 510,000 shares of the company’s stock worth $1,346,000 after acquiring an additional 85,000 shares in the last quarter. Hedge funds and other institutional investors own 57.52% of the company’s stock.

MEI Pharma Company Profile

MEI Pharma, Inc, a pharmaceutical company, focuses on the clinical development of novel therapies for the treatment of cancer. The company's clinical drug candidate includes Pracinostat, an oral available histone deacetylase inhibitor for the treatment of patients with acute myeloid leukemia and myelodysplastic syndrome.

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Analyst Recommendations for MEI Pharma (NASDAQ:MEIP)

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