Equities researchers at BTIG Research started coverage on shares of MEI Pharma (NASDAQ:MEIP) in a note issued to investors on Tuesday, Marketbeat.com reports. The firm set a “buy” rating on the stock.

Several other equities research analysts have also weighed in on the stock. reaffirmed a “buy” rating and issued a $7.50 target price on shares of MEI Pharma in a report on Friday, November 9th. HC Wainwright started coverage on shares of MEI Pharma in a report on Thursday, December 20th. They set a “buy” rating and a $10.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of MEI Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, November 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $8.08.

MEIP opened at $2.89 on Tuesday. MEI Pharma has a twelve month low of $1.82 and a twelve month high of $5.14. The stock has a market capitalization of $224.12 million, a PE ratio of -3.91 and a beta of 1.92.

MEI Pharma (NASDAQ:MEIP) last posted its earnings results on Thursday, February 7th. The company reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.01). MEI Pharma had a negative return on equity of 77.29% and a negative net margin of 1,454.51%. The firm had revenue of $2.05 million during the quarter, compared to the consensus estimate of $3.05 million. On average, research analysts expect that MEI Pharma will post -0.6 earnings per share for the current year.

A number of large investors have recently modified their holdings of the business. Bank of New York Mellon Corp grew its holdings in MEI Pharma by 76.7% during the 4th quarter. Bank of New York Mellon Corp now owns 39,017 shares of the company’s stock worth $103,000 after acquiring an additional 16,932 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in MEI Pharma by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 445,698 shares of the company’s stock worth $1,756,000 after acquiring an additional 17,562 shares during the last quarter. Knott David M grew its holdings in MEI Pharma by 83.8% during the 4th quarter. Knott David M now owns 38,590 shares of the company’s stock worth $102,000 after acquiring an additional 17,590 shares during the last quarter. Renaissance Technologies LLC grew its holdings in MEI Pharma by 0.8% during the 3rd quarter. Renaissance Technologies LLC now owns 2,236,480 shares of the company’s stock worth $9,639,000 after acquiring an additional 17,667 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in MEI Pharma by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 261,278 shares of the company’s stock worth $689,000 after acquiring an additional 20,735 shares during the last quarter. 51.40% of the stock is currently owned by hedge funds and other 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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