MEI Pharma (MEIP) Rating Lowered to Sell at ValuEngine

MEI Pharma (NASDAQ:MEIP) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Friday.

Separately, Zacks Investment Research lowered MEI Pharma from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 8th.

Shares of MEI Pharma (NASDAQ MEIP) opened at $2.26 on Friday. MEI Pharma has a fifty-two week low of $1.34 and a fifty-two week high of $3.26.

MEI Pharma (NASDAQ:MEIP) last announced its earnings results on Tuesday, September 5th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.03. The firm had revenue of $0.45 million for the quarter, compared to analysts’ expectations of $0.60 million. MEI Pharma had a negative return on equity of 3.62% and a negative net margin of 8.24%. analysts expect that MEI Pharma will post -1.05 EPS for the current year.

Several institutional investors have recently modified their holdings of the business. Spark Investment Management LLC lifted its stake in shares of MEI Pharma by 119.3% during the 2nd quarter. Spark Investment Management LLC now owns 62,500 shares of the company’s stock worth $149,000 after purchasing an additional 34,000 shares during the period. FMR LLC lifted its stake in shares of MEI Pharma by 11.2% during the 1st quarter. FMR LLC now owns 351,000 shares of the company’s stock worth $569,000 after purchasing an additional 35,476 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of MEI Pharma by 131.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 80,570 shares of the company’s stock worth $131,000 after purchasing an additional 45,793 shares during the period. Bank of Montreal Can purchased a new position in shares of MEI Pharma during the 2nd quarter worth $126,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of MEI Pharma by 2,508.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 67,825 shares of the company’s stock worth $162,000 after purchasing an additional 65,225 shares during the period. 23.28% of the stock is currently owned by institutional investors.

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About MEI Pharma

MEI Pharma, Inc is an oncology company. The Company is focused on the clinical development of drugs and therapies for treatment of cancer. The Company’s portfolio of clinical drug candidates includes Pracinostat, ME-344 and PWT143. Pracinostat is an orally available histone deacetylase (HDAC) inhibitor indicated for the treatment of advanced hematologic diseases, such as acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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