MEI Pharma Inc (NASDAQ:MEIP) has received a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $8.10.
MEIP has been the topic of several recent analyst reports. Cann reiterated a “buy” rating and set a $7.50 target price on shares of MEI Pharma in a report on Thursday, October 11th. BidaskClub lowered MEI Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Stifel Nicolaus upgraded MEI Pharma from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Thursday, July 26th. Zacks Investment Research lowered MEI Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. Finally, SunTrust Banks initiated coverage on MEI Pharma in a report on Friday, July 13th. They set a “buy” rating and a $12.00 target price on the stock.
MEIP stock opened at $3.21 on Friday. The stock has a market cap of $227.57 million, a price-to-earnings ratio of -4.34 and a beta of 1.79. MEI Pharma has a 1-year low of $1.79 and a 1-year high of $5.14.
MEI Pharma (NASDAQ:MEIP) last posted its earnings results on Thursday, August 30th. The company reported ($0.36) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.14). The business had revenue of $0.55 million for the quarter, compared to the consensus estimate of $0.46 million. MEI Pharma had a negative return on equity of 67.76% and a negative net margin of 2,470.28%. On average, equities analysts predict that MEI Pharma will post -0.62 EPS for the current year.
In other MEI Pharma news, COO David M. Urso sold 9,500 shares of MEI Pharma stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $3.58, for a total value of $34,010.00. Following the sale, the chief operating officer now owns 33,606 shares of the company’s stock, valued at approximately $120,309.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.01% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC increased its holdings in shares of MEI Pharma by 13,117.0% during the second quarter. Millennium Management LLC now owns 1,394,790 shares of the company’s stock worth $5,495,000 after buying an additional 1,384,237 shares in the last quarter. Sio Capital Management LLC increased its holdings in shares of MEI Pharma by 133.7% during the second quarter. Sio Capital Management LLC now owns 2,183,986 shares of the company’s stock worth $8,605,000 after buying an additional 1,249,423 shares in the last quarter. Acuta Capital Partners LLC acquired a new position in shares of MEI Pharma during the second quarter worth $3,468,000. Ardsley Advisory Partners acquired a new position in shares of MEI Pharma during the second quarter worth $197,000. Finally, Boxer Capital LLC acquired a new position in shares of MEI Pharma during the second quarter worth $11,478,000. 51.14% of the stock is currently owned by hedge funds and other institutional investors.
About MEI Pharma
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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