StockNews.com Begins Coverage on MEI Pharma (NASDAQ:MEIP)

Investment analysts at StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIP – Get Rating) in a report issued on Friday. The firm set a “hold” rating on the stock.

MEIP has been the subject of several other reports. Truist Financial lowered shares of MEI Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, December 6th. HC Wainwright cut their target price on shares of MEI Pharma from $5.00 to $2.00 and set a “buy” rating for the company in a research report on Monday, February 13th. BTIG Research lowered shares of MEI Pharma from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 6th. Piper Sandler lowered shares of MEI Pharma from an “overweight” rating to a “neutral” rating in a research report on Friday, February 24th. Finally, Jefferies Financial Group lowered shares of MEI Pharma from a “hold” rating to an “underperform” rating in a research report on Wednesday, February 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, MEI Pharma presently has an average rating of “Hold” and a consensus target price of $2.43.

MEI Pharma Stock Up 2.4 %

MEIP opened at $0.26 on Friday. The firm has a 50 day moving average price of $0.29 and a 200-day moving average price of $0.34. MEI Pharma has a twelve month low of $0.20 and a twelve month high of $1.94. The stock has a market capitalization of $34.13 million, a price-to-earnings ratio of -1.11 and a beta of 1.03.

MEI Pharma (NASDAQ:MEIP – Get Rating) last released its quarterly earnings data on Thursday, February 9th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.24. The firm 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%. As a group, analysts expect that MEI Pharma will post -0.27 earnings per share for the current year.

Institutional Investors Weigh In On MEI Pharma

Large investors have recently made changes to their positions in the company. Prudential Financial Inc. bought a new stake in shares of MEI Pharma in the third quarter worth about $30,000. UBS Group AG increased its holdings in shares of MEI Pharma by 115.0% in the fourth quarter. UBS Group AG now owns 132,684 shares of the company’s stock worth $32,000 after purchasing an additional 70,959 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of 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 purchasing an additional 52,169 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of MEI Pharma in the third quarter worth about $39,000. Finally, Annandale Capital LLC bought a new stake in shares of MEI Pharma in the third quarter worth about $39,000. 35.74% of the stock is owned by institutional investors.

MEI Pharma Company Profile

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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.