MEI Pharma Inc. (NASDAQ:MEIP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “MEI Pharma, Inc. is an oncology company focused on the clinical development of novel therapeutics targeting cancer metabolism. The Company is focused on the clinical development of its two lead isoflavone-based drug candidates, ME-143 and ME-344. MEI Pharma, Inc., formerly known as Marshall Edwards, Inc., is based in San Diego. “
Separately, Wedbush reissued a “neutral” rating and set a $2.00 target price on shares of MEI Pharma in a report on Tuesday, August 2nd.
MEI Pharma (NASDAQ:MEIP) opened at 1.69 on Thursday. The company’s market capitalization is $62.14 million. MEI Pharma has a 12 month low of $0.87 and a 12 month high of $2.28. The company’s 50-day moving average price is $1.87 and its 200 day moving average price is $1.49.
MEI Pharma (NASDAQ:MEIP) last issued its earnings results on Tuesday, September 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.03. Analysts forecast that MEI Pharma will post ($0.57) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. purchased a new position in MEI Pharma during the first quarter worth approximately $283,000. Bridgeway Capital Management Inc. raised its position in MEI Pharma by 9.6% in the second quarter. Bridgeway Capital Management Inc. now owns 427,500 shares of the company’s stock worth $581,000 after buying an additional 37,500 shares during the period. Renaissance Technologies LLC raised its position in MEI Pharma by 73.9% in the first quarter. Renaissance Technologies LLC now owns 478,700 shares of the company’s stock worth $603,000 after buying an additional 203,400 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in MEI Pharma by 6.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 448,639 shares of the company’s stock worth $610,000 after buying an additional 25,860 shares during the period. Finally, Vanguard Group Inc. raised its position in MEI Pharma by 0.7% in the second quarter. Vanguard Group Inc. now owns 1,036,977 shares of the company’s stock worth $1,410,000 after buying an additional 7,383 shares during the period. Hedge funds and other institutional investors own 20.75% of the company’s stock.
MEI Pharma Company Profile
MEI Pharma, Inc is an oncology company. The Company is focused on the clinical development of drugs and therapies for treatment of cancer. The Company’s portfolio of clinical drug candidates includes Pracinostat, ME-344 and PWT143. Pracinostat is an orally available histone deacetylase (HDAC) inhibitor indicated for the treatment of advanced hematologic diseases, such as acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for MEI Pharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MEI Pharma Inc. and related companies with MarketBeat.com's FREE daily email newsletter.