MEI Pharma (MEIP) Research Coverage Started at SunTrust Banks

SunTrust Banks began coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research note released on Friday morning. The brokerage issued a buy rating and a $12.00 target price on the stock.

A number of other equities analysts also recently weighed in on the company. Wells Fargo & Co raised MEI Pharma from a market perform rating to an outperform rating in a research report on Wednesday, June 6th. Laidlaw assumed coverage on MEI Pharma in a report on Thursday, April 12th. They issued a buy rating and a $7.00 price objective for the company. Cann reissued a buy rating on shares of MEI Pharma in a report on Wednesday, March 21st. Zacks Investment Research raised MEI Pharma from a hold rating to a buy rating and set a $2.00 price objective for the company in a report on Wednesday, April 11th. Finally, ValuEngine raised MEI Pharma from a hold rating to a buy rating in a report on Wednesday, May 2nd. Seven equities research analysts have rated the stock with a buy rating, The company currently has an average rating of Buy and an average price target of $7.50.

MEI Pharma opened at $4.26 on Friday, MarketBeat Ratings reports. MEI Pharma has a twelve month low of $1.79 and a twelve month high of $5.14. The company has a market cap of $159.00 million, a price-to-earnings ratio of 60.86 and a beta of 1.97.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings results on Wednesday, May 9th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.08. MEI Pharma had a negative return on equity of 60.75% and a negative net margin of 1,651.87%. The firm had revenue of $0.43 million during the quarter, compared to the consensus estimate of $0.40 million. sell-side analysts expect that MEI Pharma will post -0.83 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sio Capital Management LLC boosted its holdings in shares of MEI Pharma by 13.0% in the 1st quarter. Sio Capital Management LLC now owns 934,563 shares of the company’s stock valued at $1,935,000 after buying an additional 107,650 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of MEI Pharma by 43.1% in the 4th quarter. Deutsche Bank AG now owns 227,932 shares of the company’s stock valued at $478,000 after buying an additional 68,691 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of MEI Pharma by 2.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,014,113 shares of the company’s stock valued at $4,230,000 after buying an additional 49,906 shares during the last quarter. 22.72% of the stock is owned by 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.

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Analyst Recommendations for MEI Pharma (NASDAQ:MEIP)

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