MEI Pharma (MEIP) Reaches New 12-Month High and Low at $3.55

Shares of MEI Pharma (NASDAQ:MEIP) reached a new 52-week high and low during trading on Friday . The company traded as low as $3.55 and last traded at $3.43, with a volume of 790973 shares traded. The stock had previously closed at $3.25.

A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of MEI Pharma from a “sell” rating to a “hold” rating in a report on Saturday, February 10th. Laidlaw assumed coverage on shares of MEI Pharma in a research report on Thursday, April 12th. They set a “buy” rating and a $7.00 price objective on the stock. Cann reaffirmed a “buy” rating on shares of MEI Pharma in a research report on Thursday, February 8th. Finally, ValuEngine raised shares of MEI Pharma from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. MEI Pharma presently has an average rating of “Buy” and an average price target of $5.63.

MEI Pharma (NASDAQ:MEIP) last announced its quarterly earnings data on Wednesday, May 9th. The company reported ($0.16) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.08. MEI Pharma had a negative net margin of 1,651.87% and a negative return on equity of 60.75%. The firm had revenue of $0.43 million for the quarter, compared to the consensus estimate of $0.40 million. equities analysts predict that MEI Pharma will post -0.89 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP purchased a new position in MEI Pharma during the third quarter valued at approximately $402,000. Deutsche Bank AG grew its position in MEI Pharma by 43.1% during the fourth 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 in the last quarter. Sio Capital Management LLC grew its position in MEI Pharma by 13.0% during the first quarter. Sio Capital Management LLC now owns 934,563 shares of the company’s stock valued at $1,935,000 after purchasing an additional 107,650 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in MEI Pharma by 2.5% in the fourth 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. 22.95% of the stock is currently owned by hedge funds and other institutional investors.

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.

Receive News & Ratings for MEI Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MEI Pharma and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply