ValuEngine upgraded shares of MEI Pharma (NASDAQ:MEIP) from a hold rating to a buy rating in a research note released on Monday, ValuEngine reports.

Several other equities research analysts have also commented on the stock. Zacks Investment Research raised shares of MEI Pharma from a hold rating to a buy rating and set a $2.75 price target for the company in a report on Wednesday, February 12th. HC Wainwright reaffirmed a buy rating and set a $10.00 target price on shares of MEI Pharma in a report on Monday, February 10th.

Shares of NASDAQ MEIP opened at $1.51 on Monday. The firm has a market cap of $154.23 million, a PE ratio of -3.02 and a beta of 1.48. The firm has a fifty day moving average of $1.88 and a 200 day moving average of $1.94. MEI Pharma has a one year low of $0.72 and a one year high of $3.41.

MEI Pharma (NASDAQ:MEIP) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.11). The company had revenue of $1.01 million during the quarter, compared to analysts’ expectations of $1.24 million. MEI Pharma had a negative return on equity of 70.99% and a negative net margin of 825.55%. As a group, research analysts predict that MEI Pharma will post -0.6 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. grew its holdings in shares of MEI Pharma by 317.3% during the fourth quarter. Citigroup Inc. now owns 14,113 shares of the company’s stock worth $35,000 after buying an additional 10,731 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of MEI Pharma during the fourth quarter worth $36,000. Victory Capital Management Inc. grew its holdings in shares of MEI Pharma by 48.8% during the fourth quarter. Victory Capital Management Inc. now owns 16,047 shares of the company’s stock worth $37,000 after buying an additional 5,264 shares in the last quarter. Raymond James & Associates purchased a new stake in shares of MEI Pharma during the fourth quarter worth $47,000. Finally, Strs Ohio purchased a new stake in shares of MEI Pharma during the fourth quarter worth $56,000. 62.07% of the stock is owned by institutional investors and hedge funds.

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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