MEI Pharma (MEIP) Rating Increased to Hold at Zacks Investment Research

MEI Pharma (NASDAQ:MEIP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

According to Zacks, “MEI Pharma, Inc. is an oncology company focused on the clinical development of novel therapeutics targeting cancer metabolism. The Company is focused on the clinical development of its two lead isoflavone-based drug candidates, ME-143 and ME-344. MEI Pharma, Inc., formerly known as Marshall Edwards, Inc., is based in San Diego. “

Other equities research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of MEI Pharma from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Cann restated a “buy” rating on shares of MEI Pharma in a report on Thursday. Finally, Oppenheimer set a $7.00 price target on shares of MEI Pharma and gave the stock a “buy” rating in a report on Monday, January 8th.

Shares of MEI Pharma (NASDAQ:MEIP) opened at $2.14 on Friday. MEI Pharma has a 12 month low of $1.48 and a 12 month high of $3.26. The firm has a market cap of $80.77, a price-to-earnings ratio of -3.96 and a beta of 2.11.

MEI Pharma (NASDAQ:MEIP) last announced its earnings results on Wednesday, November 8th. The company reported ($0.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.07). MEI Pharma had a negative net margin of 354.10% and a negative return on equity of 39.81%. The firm had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.70 million. analysts anticipate that MEI Pharma will post -1.05 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of MEI Pharma by 2,508.7% in the second 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 last quarter. OxFORD Asset Management LLP grew its holdings in shares of MEI Pharma by 116.2% in the second quarter. OxFORD Asset Management LLP now owns 235,025 shares of the company’s stock worth $562,000 after purchasing an additional 126,303 shares during the last quarter. Algert Global LLC bought a new position in shares of MEI Pharma in the third quarter worth about $586,000. Macquarie Group Ltd. bought a new position in shares of MEI Pharma in the third quarter worth about $306,000. Finally, Russell Investments Group Ltd. grew its holdings in MEI Pharma by 659.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 204,199 shares of the company’s stock worth $547,000 after acquiring an additional 177,306 shares in the last quarter. Hedge funds and other institutional investors own 22.28% of the company’s stock.

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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).

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