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

MEI Pharma, Inc. (NASDAQ:MEIPGet Free Report) has been assigned an average recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $29.67.

Several brokerages have recently issued reports on MEIP. Stifel Nicolaus reduced their target price on MEI Pharma from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Wednesday, September 27th. assumed coverage on MEI Pharma in a report on Thursday, November 9th. They issued a “hold” rating for the company.

Get Our Latest Analysis on MEI Pharma

Insiders Place Their Bets

In other news, major shareholder Anson Funds Management Lp acquired 48,060 shares of the stock in a transaction that occurred on Friday, September 22nd. The shares were bought at an average cost of $6.85 per share, for a total transaction of $329,211.00. Following the acquisition, the insider now owns 864,188 shares in the company, valued at approximately $5,919,687.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Simplex Trading LLC purchased a new position in MEI Pharma during the second quarter worth about $28,000. BML Capital Management LLC acquired a new position in shares of MEI Pharma in the second quarter worth $151,000. Anson Funds Management LP increased its position in shares of MEI Pharma by 24.8% during the first quarter. Anson Funds Management LP now owns 13,250,582 shares of the company’s stock worth $3,033,000 after acquiring an additional 2,632,623 shares during the period. Jane Street Group LLC acquired a new stake in shares of MEI Pharma in the first quarter valued at $31,000. Finally, Two Sigma Investments LP boosted its holdings in MEI Pharma by 26.9% in the first quarter. Two Sigma Investments LP now owns 233,931 shares of the company’s stock valued at $54,000 after purchasing an additional 49,526 shares during the period. 41.92% of the stock is currently owned by institutional investors and hedge funds.

MEI Pharma Price Performance

MEIP stock opened at $7.27 on Wednesday. The stock has a market capitalization of $48.42 million, a P/E ratio of 1.17 and a beta of 0.76. MEI Pharma has a 1-year low of $4.00 and a 1-year high of $8.60. The business has a fifty day moving average price of $6.61 and a 200-day moving average price of $6.78.

MEI Pharma (NASDAQ:MEIPGet Free Report) last posted its earnings results on Tuesday, September 26th. The company reported ($1.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.25) by $1.74. MEI Pharma had a return on equity of 86.21% and a net margin of 39.06%. The company had revenue of $1.46 million for the quarter, compared to the consensus estimate of $0.75 million. As a group, analysts anticipate that MEI Pharma will post -4.89 earnings per share for the current year.

MEI Pharma Dividend Announcement

The company also recently declared a dividend, which will be paid on Wednesday, December 6th. Investors of record on Friday, November 17th will be issued a dividend of $1.75 per share. The ex-dividend date is Thursday, November 16th.

About MEI Pharma

(Get Free Report

MEI Pharma, Inc, a clinical-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 for the treatment of patients with relapsed/refractory follicular lymphoma; and Voruciclib, an oral cyclin-dependent kinase 9 inhibitor, which is in Phase I clinical trial for acute myeloid leukemia and B-cell malignancies.

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Analyst Recommendations for MEI Pharma (NASDAQ:MEIP)

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