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Research analysts at Brean Capital started coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report released on Tuesday. The firm set a “buy” rating and a $16.00 price target on the stock. Brean Capital’s price target points to a potential upside of 156.00% from the stock’s previous close.

Shares of MEI Pharma (NASDAQ:MEIP) traded down 2.72% during mid-day trading on Tuesday, hitting $6.08. 63,278 shares of the company’s stock traded hands. MEI Pharma has a 52 week low of $5.51 and a 52 week high of $13.98. The stock’s 50-day moving average is $6.22 and its 200-day moving average is $8.1. The company’s market cap is $131.4 million.

MEI Pharma, Inc, formerly Marshall Edwards, Inc, is a development-stage oncology company. The Company is engaged in the development of drugs for the treatment of cancer.

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