Several other research analysts have also issued reports on the company. Zacks Investment Research lowered MEI Pharma from a hold rating to a sell rating in a research report on Thursday, September 10th. SunTrust Banks reduced their target price on MEI Pharma from $16.00 to $12.00 in a research report on Monday, July 6th. Alliance Global Partners began coverage on MEI Pharma in a research report on Tuesday, September 22nd. They set a buy rating and a $9.00 target price on the stock. ValuEngine raised MEI Pharma from a hold rating to a buy rating in a research report on Friday, October 2nd. Finally, Ci Capital reissued a buy rating and issued a $9.00 price objective on shares of MEI Pharma in a report on Sunday, July 5th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $9.29.
MEIP opened at $2.78 on Friday. The firm has a market cap of $312.81 million, a price-to-earnings ratio of -5.45 and a beta of 1.74. MEI Pharma has a 12 month low of $0.72 and a 12 month high of $4.46. The stock has a fifty day moving average price of $3.05 and a 200-day moving average price of $3.07.
Several hedge funds have recently made changes to their positions in MEIP. Bank of Montreal Can purchased a new stake in shares of MEI Pharma in the second quarter worth about $28,000. Alliancebernstein L.P. purchased a new stake in shares of MEI Pharma in the first quarter worth about $37,000. Jane Street Group LLC purchased a new stake in shares of MEI Pharma in the first quarter worth about $38,000. State of Wisconsin Investment Board purchased a new stake in shares of MEI Pharma in the second quarter worth about $44,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of MEI Pharma by 213.8% in the first quarter. BNP Paribas Arbitrage SA now owns 30,130 shares of the company’s stock worth $49,000 after buying an additional 20,529 shares during the last quarter. 59.32% of the stock is currently owned by institutional investors and hedge funds.
MEI Pharma Company Profile
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.
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