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

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

Shares of MEI Pharma stock opened at $2.09 on Tuesday. MEI Pharma has a fifty-two week low of $1.82 and a fifty-two week high of $4.80. The firm has a market capitalization of $155.41 million, a price-to-earnings ratio of -2.82 and a beta of 1.73. The company has a fifty day moving average price of $2.60.

MEI Pharma (NASDAQ:MEIP) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.17) earnings per share for the quarter, meeting the consensus estimate of ($0.17). The firm had revenue of $1.25 million for the quarter, compared to analyst estimates of $1.01 million. MEI Pharma had a negative return on equity of 88.85% and a negative net margin of 1,443.85%. On average, research analysts expect that MEI Pharma will post -0.53 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Two Sigma Advisers LP acquired a new position in shares of MEI Pharma during the 4th quarter worth approximately $46,000. Algert Global LLC bought a new stake in MEI Pharma in the 1st quarter valued at $58,000. Zacks Investment Management bought a new stake in MEI Pharma in the 4th quarter valued at $51,000. Bank of New York Mellon Corp boosted its stake in MEI Pharma by 76.7% in the 4th quarter. Bank of New York Mellon Corp now owns 39,017 shares of the company’s stock valued at $103,000 after purchasing an additional 16,932 shares during the period. Finally, Laurion Capital Management LP boosted its stake in MEI Pharma by 272.9% in the 1st quarter. Laurion Capital Management LP now owns 119,990 shares of the company’s stock valued at $368,000 after purchasing an additional 87,812 shares during the period. 57.52% of the stock is currently owned by institutional investors.

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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