MEI Pharma (NASDAQ:MEIP) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of MEI Pharma (NASDAQ:MEIP – Get Rating) in a note issued to investors on Friday. The brokerage set a “hold” rating on the stock.

Several other brokerages also recently weighed in on MEIP. Jefferies Financial Group downgraded MEI Pharma from a “hold” rating to an “underperform” rating in a research report on Wednesday, February 8th. Truist Financial downgraded MEI Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, December 6th. Piper Sandler downgraded MEI Pharma from an “overweight” rating to a “neutral” rating in a research report on Friday, February 24th. BTIG Research downgraded MEI Pharma from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 6th. Finally, HC Wainwright dropped their target price on MEI Pharma from $5.00 to $2.00 and set a “buy” rating for the company in a research report on Monday, February 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $2.43.

MEI Pharma Stock Performance

NASDAQ:MEIP opened at $0.24 on Friday. The stock has a fifty day moving average price of $0.29 and a 200-day moving average price of $0.33. The company has a market cap of $31.98 million, a price-to-earnings ratio of -1.04 and a beta of 1.03. MEI Pharma has a fifty-two week low of $0.20 and a fifty-two week high of $1.94.

MEI Pharma (NASDAQ:MEIP – Get Rating) last released its earnings results on Thursday, February 9th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.24. The firm had revenue of $32.74 million during the quarter, compared to the consensus estimate of $9.69 million. MEI Pharma had a negative return on equity of 88.33% and a negative net margin of 49.80%. Research analysts predict that MEI Pharma will post -0.27 EPS for the current fiscal year.

Hedge Funds Weigh In On MEI Pharma

Institutional investors have recently added to or reduced their stakes in the business. Carlson Capital L P lifted its stake in MEI Pharma by 4.5% in the third quarter. Carlson Capital L P now owns 1,150,000 shares of the company’s stock valued at $445,000 after buying an additional 50,000 shares during the period. Assenagon Asset Management S.A. acquired a new position in MEI Pharma in the third quarter valued at approximately $39,000. Laurion Capital Management LP acquired a new position in MEI Pharma in the second quarter valued at approximately $1,559,000. Sigma Planning Corp lifted its stake in MEI Pharma by 50.9% in the second quarter. Sigma Planning Corp now owns 632,200 shares of the company’s stock valued at $382,000 after buying an additional 213,250 shares during the period. Finally, Mirabella Financial Services LLP acquired a new position in MEI Pharma in the first quarter valued at approximately $76,000. 35.74% of the stock is owned by institutional investors and hedge funds.

About MEI Pharma

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MEI Pharma, Inc is a pharmaceutical company, which engages in the development of pharmaceutical compounds. Its products include Zandelisib, Voruciclib, and ME-344. The company was founded on December 1, 2000 and is headquartered in San Diego, CA.