MEI Pharma, Inc. (NASDAQ:MEIP) Given Consensus Rating of “Hold” by Analysts

Shares of MEI Pharma, Inc. (NASDAQ:MEIP – Get Rating) have been given a consensus rating of “Hold” by the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $2.50.

MEIP has been the subject of a number of recent analyst reports. Truist Financial lowered shares of MEI Pharma from a “buy” rating to a “hold” rating in a report on Tuesday, December 6th. StockNews.com initiated coverage on shares of MEI Pharma in a report on Thursday, January 12th. They set a “hold” rating for the company. Finally, BTIG Research lowered shares of MEI Pharma from a “buy” rating to a “neutral” rating in a report on Tuesday, December 6th.

MEI Pharma Stock Performance

MEIP opened at $0.33 on Thursday. The company has a fifty day simple moving average of $0.30 and a 200 day simple moving average of $0.41. The firm has a market cap of $44.24 million, a price-to-earnings ratio of -0.83 and a beta of 0.93. MEI Pharma has a twelve month low of $0.21 and a twelve month high of $2.37.

MEI Pharma (NASDAQ:MEIP – Get Rating) last released its quarterly earnings results on Monday, November 14th. The company reported ($0.13) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.13). The business had revenue of $8.73 million during the quarter, compared to analyst estimates of $9.75 million. MEI Pharma had a negative net margin of 98.17% and a negative return on equity of 115.15%. On average, analysts forecast that MEI Pharma will post -0.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Two Sigma Investments LP lifted its position in MEI Pharma by 50.4% in the 3rd quarter. Two Sigma Investments LP now owns 379,011 shares of the company’s stock valued at $147,000 after purchasing an additional 127,046 shares during the last quarter. Vanguard Group Inc. lifted its position in MEI Pharma by 4.4% in the 3rd quarter. Vanguard Group Inc. now owns 7,668,708 shares of the company’s stock valued at $2,965,000 after purchasing an additional 322,969 shares during the last quarter. Carlson Capital L P lifted its position in MEI Pharma by 4.5% in the 3rd quarter. Carlson Capital L P now owns 1,150,000 shares of the company’s stock valued at $445,000 after purchasing an additional 50,000 shares during the last quarter. Annandale Capital LLC bought a new stake in MEI Pharma in the 3rd quarter valued at about $39,000. Finally, Zacks Investment Management bought a new stake in MEI Pharma in the 3rd quarter valued at about $42,000. 35.74% of the stock is currently owned by institutional investors.

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.