MEI Pharma’s (MEIP) Buy Rating Reiterated at Ci Capital

Ci Capital reaffirmed their buy rating on shares of MEI Pharma (NASDAQ:MEIP) in a report published on Sunday morning, AnalystRatings.com reports. The brokerage currently has a $9.00 target price on the stock.

Other equities analysts have also issued reports about the stock. Wells Fargo & Co reissued a market perform rating and issued a $13.00 price objective on shares of MEI Pharma in a research report on Sunday, June 14th. SunTrust Banks assumed coverage on shares of MEI Pharma in a research report on Friday, May 29th. They issued a buy rating and a $16.00 price objective on the stock. ValuEngine lowered shares of MEI Pharma from a buy rating to a hold rating in a research report on Thursday, July 2nd. Zacks Investment Research lowered shares of MEI Pharma from a strong-buy rating to a hold rating in a research report on Friday, July 3rd. Finally, BidaskClub raised shares of MEI Pharma from a buy rating to a strong-buy rating in a research report on Thursday, June 25th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $9.35.

NASDAQ MEIP opened at $3.41 on Friday. The firm’s fifty day moving average price is $3.76 and its two-hundred day moving average price is $2.53. MEI Pharma has a 1 year low of $0.72 and a 1 year high of $4.46. The firm has a market capitalization of $362.52 million, a P/E ratio of -11.37 and a beta of 1.95.

MEI Pharma (NASDAQ:MEIP) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.09. The firm had revenue of $1.24 million for the quarter, compared to analyst estimates of $1.28 million. MEI Pharma had a negative net margin of 539.48% and a negative return on equity of 60.32%. As a group, sell-side analysts expect that MEI Pharma will post -0.06 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of MEIP. Victory Capital Management Inc. boosted its position in MEI Pharma by 48.8% during the 4th quarter. Victory Capital Management Inc. now owns 16,047 shares of the company’s stock worth $37,000 after buying an additional 5,264 shares during the period. Deutsche Bank AG boosted its position in MEI Pharma by 31.0% during the 1st quarter. Deutsche Bank AG now owns 35,967 shares of the company’s stock worth $58,000 after buying an additional 8,513 shares during the period. Zebra Capital Management LLC raised its holdings in MEI Pharma by 79.0% during the 4th quarter. Zebra Capital Management LLC now owns 22,708 shares of the company’s stock worth $56,000 after purchasing an additional 10,021 shares during the last quarter. Citigroup Inc. raised its holdings in MEI Pharma by 317.3% during the 4th quarter. Citigroup Inc. now owns 14,113 shares of the company’s stock worth $35,000 after purchasing an additional 10,731 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in MEI Pharma by 4.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 255,184 shares of the company’s stock worth $411,000 after purchasing an additional 10,940 shares during the last quarter. Institutional investors own 66.82% of the company’s stock.

About MEI Pharma

MEI Pharma, Inc, a pharmaceutical company, focuses on the clinical development of novel therapies for the treatment of cancer. The company's clinical drug candidate includes Pracinostat, an oral available histone deacetylase inhibitor for the treatment of patients with acute myeloid leukemia and myelodysplastic syndrome.

Read More: Analyzing a company’s cash flow statement

Receive News & Ratings for MEI Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MEI Pharma and related companies with MarketBeat.com's FREE daily email newsletter.