MEI Pharma (NASDAQ:MEIP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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. “
MEIP has been the topic of a number of other reports. Cann reissued a “buy” rating and issued a $6.50 price target on shares of MEI Pharma in a research note on Thursday, December 21st. Oppenheimer set a $7.00 price target on shares of MEI Pharma and gave the company a “buy” rating in a research note on Thursday, December 21st. Finally, ValuEngine raised shares of MEI Pharma from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. MEI Pharma presently has an average rating of “Buy” and an average price target of $5.63.
MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings results on Thursday, February 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.10. The business had revenue of $0.36 million for the quarter, compared to the consensus estimate of $1.00 million. MEI Pharma had a negative net margin of 354.10% and a negative return on equity of 42.23%. sell-side analysts anticipate that MEI Pharma will post -0.95 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in MEIP. OxFORD Asset Management LLP grew its holdings in shares of MEI Pharma by 96.9% in the third quarter. OxFORD Asset Management LLP now owns 462,846 shares of the company’s stock valued at $1,254,000 after purchasing an additional 227,821 shares in the last quarter. Algert Global LLC acquired a new position in shares of MEI Pharma in the third quarter valued at approximately $586,000. Russell Investments Group Ltd. grew its holdings in shares of MEI Pharma by 659.3% in the third quarter. Russell Investments Group Ltd. now owns 204,199 shares of the company’s stock valued at $547,000 after purchasing an additional 177,306 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of MEI Pharma in the third quarter valued at approximately $402,000. Finally, Macquarie Group Ltd. acquired a new position in shares of MEI Pharma in the third quarter valued at approximately $306,000. 23.51% of the stock is currently owned by institutional investors and hedge funds.
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About MEI Pharma
MEI Pharma, Inc, an oncology company, focuses on the clinical development of drugs for the treatment of cancer. The company's clinical drug candidate includes Pracinostat, an orally available histone deacetylase inhibitor for the treatment of patients with acute myeloid leukemia and myelodysplastic syndrome.
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