Shares of MEI Pharma Inc (NASDAQ:MEIP) have been given an average recommendation of “Buy” by the ten brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $8.70.
A number of brokerages recently commented on MEIP. reiterated a “buy” rating and issued a $7.50 price target on shares of MEI Pharma in a research note on Monday, December 3rd. HC Wainwright began coverage on shares of MEI Pharma in a research note on Thursday, December 20th. They issued a “buy” rating and a $10.00 price target on the stock. Finally, BTIG Research began coverage on shares of MEI Pharma in a research report on Tuesday, February 12th. They set a “buy” rating on the stock.
Several large investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its position in shares of MEI Pharma by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 261,278 shares of the company’s stock worth $689,000 after purchasing an additional 20,735 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of MEI Pharma by 55.8% during the 4th quarter. Macquarie Group Ltd. now owns 600,000 shares of the company’s stock worth $1,584,000 after purchasing an additional 215,000 shares in the last quarter. Candriam Luxembourg S.C.A. grew its position in shares of MEI Pharma by 20.0% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 510,000 shares of the company’s stock worth $1,346,000 after purchasing an additional 85,000 shares in the last quarter. Zacks Investment Management acquired a new position in shares of MEI Pharma during the 4th quarter worth approximately $51,000. Finally, Perceptive Advisors LLC acquired a new position in shares of MEI Pharma during the 4th quarter worth approximately $11,617,000. Hedge funds and other institutional investors own 56.27% of the company’s stock.
MEI Pharma (NASDAQ:MEIP) last announced its quarterly earnings results on Thursday, February 7th. The company reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.01). MEI Pharma had a negative net margin of 1,454.51% and a negative return on equity of 77.29%. The company had revenue of $2.05 million during the quarter, compared to analyst estimates of $3.05 million. Analysts anticipate that MEI Pharma will post -0.59 earnings per share for the current year.
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.
Further Reading: P/E Growth (PEG)
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