Separately, Stifel Nicolaus reduced their price target on MEI Pharma from $10.00 to $9.00 and set a hold rating for the company in a research report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, MEI Pharma presently has an average rating of Hold and a consensus target price of $24.50.
MEI Pharma Price Performance
MEI Pharma (NASDAQ:MEIP – Get Free Report) last announced its earnings results on Tuesday, September 26th. The company reported ($1.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.25) by $1.74. The company had revenue of $1.46 million during the quarter, compared to analyst estimates of $0.75 million. MEI Pharma had a net margin of 39.06% and a return on equity of 86.21%. As a group, analysts expect that MEI Pharma will post 3.48 earnings per share for the current year.
MEI Pharma Dividend Announcement
The firm also recently declared a dividend, which will be paid on Wednesday, December 6th. Shareholders of record on Friday, November 17th will be issued a dividend of $1.75 per share. The ex-dividend date is Thursday, November 16th.
In related news, major shareholder Anson Funds Management Lp bought 48,060 shares of the business’s stock in a transaction dated Friday, September 22nd. The shares were purchased at an average price of $6.85 per share, with a total value of $329,211.00. Following the transaction, the insider now owns 864,188 shares in the company, valued at approximately $5,919,687.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.90% of the company’s stock.
Hedge Funds Weigh In On MEI Pharma
Large investors have recently bought and sold shares of the business. Anson Funds Management LP increased its holdings in shares of MEI Pharma by 24.8% in the 1st quarter. Anson Funds Management LP now owns 13,250,582 shares of the company’s stock valued at $3,033,000 after acquiring an additional 2,632,623 shares during the period. Simplex Trading LLC bought a new stake in MEI Pharma during the second quarter valued at about $28,000. BML Capital Management LLC bought a new position in MEI Pharma in the second quarter worth about $151,000. Two Sigma Investments LP boosted its stake in MEI Pharma by 50.4% in the third quarter. Two Sigma Investments LP now owns 379,011 shares of the company’s stock valued at $147,000 after acquiring an additional 127,046 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in MEI Pharma by 162.2% in the second quarter. JPMorgan Chase & Co. now owns 167,282 shares of the company’s stock worth $102,000 after purchasing an additional 103,480 shares during the last quarter. Institutional investors own 41.92% of the company’s stock.
MEI Pharma Company Profile
MEI Pharma, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapies for the treatment of cancer. The company develops Zandelisib, an oral phosphatidylinositol 3-kinase delta inhibitor for the treatment of patients with relapsed/refractory follicular lymphoma; and Voruciclib, an oral cyclin-dependent kinase 9 inhibitor, which is in Phase I clinical trial for acute myeloid leukemia and B-cell malignancies.
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