MEI Pharma, Inc. (NASDAQ:MEIP) Receives Average Recommendation of “Hold” from Analysts

Shares of MEI Pharma, Inc. (NASDAQ:MEIP – Get Rating) have been given an average recommendation of “Hold” by the six analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $40.00.

Several equities analysts have commented on MEIP shares. StockNews.com lowered shares of MEI Pharma from a “buy” rating to a “hold” rating in a research report on Friday, May 19th. Piper Sandler lowered shares of MEI Pharma from an “overweight” rating to a “neutral” rating in a research report on Friday, February 24th. HC Wainwright lowered their price objective on shares of MEI Pharma from $100.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, February 13th. 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.

Institutional Investors Weigh In On MEI Pharma

Several institutional investors have recently made changes to their positions in MEIP. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of MEI Pharma in the 1st quarter worth about $317,000. Acadian Asset Management LLC purchased a new position in MEI Pharma in the 1st quarter worth about $275,000. MetLife Investment Management LLC lifted its holdings in MEI Pharma by 969.4% during the 1st quarter. MetLife Investment Management LLC now owns 79,966 shares of the company’s stock valued at $48,000 after buying an additional 72,488 shares in the last quarter. BlackRock Inc. lifted its holdings in MEI Pharma by 2.7% during the 1st quarter. BlackRock Inc. now owns 6,867,423 shares of the company’s stock valued at $4,138,000 after buying an additional 177,552 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in MEI Pharma by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 6,245,990 shares of the company’s stock valued at $3,763,000 after buying an additional 476,251 shares in the last quarter. Institutional investors own 35.74% of the company’s stock.

MEI Pharma Stock Performance

Shares of NASDAQ:MEIP opened at $7.39 on Wednesday. The firm has a fifty day moving average price of $7.37 and a 200 day moving average price of $6.43. MEI Pharma has a fifty-two week low of $4.00 and a fifty-two week high of $13.60. The firm has a market cap of $49.24 million, a price-to-earnings ratio of -1.34 and a beta of 1.03.

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.