MEI Pharma Inc (NASDAQ:MEIP) has been given an average rating of “Buy” by the nine analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $8.10.
MEIP has been the subject of several recent analyst reports. Cann reiterated a “buy” rating and set a $7.50 price objective on shares of MEI Pharma in a research note on Friday, August 31st. BidaskClub lowered MEI Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Finally, Zacks Investment Research lowered MEI Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, November 14th.
A number of institutional investors have recently added to or reduced their stakes in the business. Vivo Capital LLC acquired a new stake in shares of MEI Pharma in the second quarter valued at $26,007,000. NEA Management Company LLC acquired a new stake in shares of MEI Pharma in the second quarter valued at $22,539,000. Boxer Capital LLC acquired a new stake in shares of MEI Pharma in the second quarter valued at $11,478,000. Vanguard Group Inc. increased its stake in shares of MEI Pharma by 70.0% in the third quarter. Vanguard Group Inc. now owns 2,342,115 shares of the company’s stock valued at $10,095,000 after buying an additional 964,033 shares in the last quarter. Finally, Sio Capital Management LLC increased its stake in shares of MEI Pharma by 5.5% in the third quarter. Sio Capital Management LLC now owns 2,303,645 shares of the company’s stock valued at $9,929,000 after buying an additional 119,659 shares in the last quarter. Hedge funds and other institutional investors own 50.79% of the company’s stock.
MEI Pharma stock traded up $0.09 during mid-day trading on Wednesday, hitting $2.80. 599,884 shares of the company were exchanged, compared to its average volume of 237,148. MEI Pharma has a 1-year low of $1.79 and a 1-year high of $5.14. The firm has a market capitalization of $204.84 million, a P/E ratio of -3.78 and a beta of 2.18.
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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