MEI Pharma (NASDAQ:MEIP) Now Covered by Analysts at StockNews.com

Posted by on Apr 10th, 2023

Research analysts at StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIP – Get Rating) in a research report issued to clients and investors on Monday. The firm set a “hold” rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler cut MEI Pharma from an “overweight” rating to a “neutral” rating in a report on Friday, February 24th. HC Wainwright decreased their price objective on MEI Pharma from $5.00 to $2.00 and set a “buy” rating on the stock in a research note on Monday, February 13th. Finally, Jefferies Financial Group downgraded shares of MEI Pharma from a “hold” rating to an “underperform” rating in a research note on Wednesday, February 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $3.00.

MEI Pharma Stock Down 2.1 %

Shares of MEIP stock opened at $0.23 on Monday. The stock has a market cap of $30.65 million, a P/E ratio of -1.00 and a beta of 1.02. MEI Pharma has a fifty-two week low of $0.20 and a fifty-two week high of $0.70. The business has a fifty day simple moving average of $0.26 and a 200-day simple moving average of $0.31.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. purchased a new stake in MEI Pharma during the third quarter valued at about $30,000. UBS Group AG raised its stake in shares of MEI Pharma by 115.0% in the 4th quarter. UBS Group AG now owns 132,684 shares of the company’s stock valued at $32,000 after acquiring an additional 70,959 shares during the period. BNP Paribas Arbitrage SA boosted its position in MEI Pharma by 483.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 62,963 shares of the company’s stock worth $38,000 after purchasing an additional 52,169 shares during the period. Assenagon Asset Management S.A. acquired a new stake in MEI Pharma in the 3rd quarter valued at $39,000. Finally, Annandale Capital LLC purchased a new position in MEI Pharma in the third quarter valued at about $39,000. Institutional investors and hedge funds own 35.74% of the company’s stock.

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.

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Analyst Recommendations for MEI Pharma (NASDAQ:MEIP)

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