MEI Pharma (NASDAQ:MEIP) Price Target Cut to $2.00

MEI Pharma (NASDAQ:MEIPGet Rating) had its price objective lowered by research analysts at BTIG Research to $2.00 in a report released on Thursday, Stock Target Advisor reports. BTIG Research’s price objective suggests a potential upside of 412.82% from the stock’s previous close.

Several other analysts also recently weighed in on the company. HC Wainwright restated a “buy” rating on shares of MEI Pharma in a research report on Monday, September 12th. StockNews.com began coverage on MEI Pharma in a research report on Thursday. They set a “hold” rating for the company. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.86.

MEI Pharma Stock Performance

NASDAQ:MEIP opened at $0.39 on Thursday. The stock has a fifty day moving average price of $0.38 and a 200-day moving average price of $0.48. The company has a market cap of $51.97 million, a price-to-earnings ratio of -0.97 and a beta of 0.83. MEI Pharma has a fifty-two week low of $0.28 and a fifty-two week high of $3.55.

MEI Pharma (NASDAQ:MEIPGet Rating) last released its earnings results on Thursday, September 8th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.06. The firm had revenue of $11.41 million during the quarter, compared to the consensus estimate of $7.92 million. MEI Pharma had a negative return on equity of 115.15% and a negative net margin of 98.17%. Research analysts predict that MEI Pharma will post -0.59 EPS for the current fiscal year.

Institutional Investors Weigh In On MEI Pharma

Large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its holdings in MEI Pharma by 8.9% in the first quarter. Goldman Sachs Group Inc. now owns 255,594 shares of the company’s stock worth $154,000 after acquiring an additional 20,818 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in MEI Pharma by 111.0% in the first quarter. GSA Capital Partners LLP now owns 60,923 shares of the company’s stock worth $37,000 after acquiring an additional 32,050 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in MEI Pharma by 6.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 734,296 shares of the company’s stock worth $443,000 after acquiring an additional 47,006 shares in the last quarter. Carlson Capital L P boosted its holdings 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 worth $445,000 after acquiring an additional 50,000 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in MEI Pharma by 483.3% in the second quarter. BNP Paribas Arbitrage SA now owns 62,963 shares of the company’s stock worth $38,000 after acquiring an additional 52,169 shares in the last quarter. Institutional investors and hedge funds own 35.80% of the company’s stock.

About MEI Pharma

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MEI Pharma, Inc, a late-stage pharmaceutical company, focuses on the development and commercialization of various therapies for the treatment of cancer. The company develops Zandelisib, an oral phosphatidylinositol 3-kinase delta inhibitor that is in Phase III clinical trial for the treatment of patients with relapsed/refractory follicular lymphoma, as well as in Phase Ib multi-arm trial to treat B-cell malignancies; and Voruciclib, an oral cyclin-dependent kinase 9 inhibitor, which is in Phase Ib clinical trial for acute myeloid leukemia and B-cell malignancies.

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