MEI Pharma Inc (MEIP) Earns Outperform Rating from Analysts at Oppenheimer Holdings Inc.

MEI Pharma Inc (MEIP) Earns Outperform Rating from Analysts at Oppenheimer Holdings Inc.

MEIP has been the subject of several other research reports. Zacks Investment Research upgraded MEI Pharma from a hold rating to a strong-buy rating and set a $1.75 price target for the company in a research note on Tuesday, May 9th. Cann restated an outperform rating on shares of MEI Pharma in a research note on Wednesday, May 24th.

Oppenheimer Holdings Inc. assumed coverage on shares of MEI Pharma Inc (NASDAQ:MEIP) in a research report report published on Thursday morning. The brokerage issued an outperform rating and a $6.50 price target on the stock.

Shares of MEI Pharma (NASDAQ MEIP) opened at 2.20 on Thursday. The firm has a market cap of $80.90 million, a P/E ratio of 64.71 and a beta of 1.01. The stock’s 50 day moving average price is $1.62 and its 200-day moving average price is $1.59. MEI Pharma has a 12-month low of $1.23 and a 12-month high of $2.28.

MEI Pharma (NASDAQ:MEIP) last posted its quarterly earnings results on Thursday, May 4th. The company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02). The firm had revenue of $4.51 million for the quarter, compared to the consensus estimate of $5 million. On average, analysts predict that MEI Pharma will post $0.04 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in MEIP. TFS Capital LLC boosted its stake in MEI Pharma by 91.5% in the first quarter. TFS Capital LLC now owns 75,489 shares of the company’s stock valued at $122,000 after buying an additional 36,078 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in MEI Pharma by 131.7% in the first quarter. Goldman Sachs Group Inc. now owns 80,570 shares of the company’s stock valued at $131,000 after buying an additional 45,793 shares during the last quarter. Oxford Asset Management acquired a new stake in MEI Pharma during the first quarter valued at $176,000. Geode Capital Management LLC boosted its stake in MEI Pharma by 10.4% in the first quarter. Geode Capital Management LLC now owns 141,562 shares of the company’s stock valued at $229,000 after buying an additional 13,347 shares during the last quarter. Finally, FMR LLC acquired a new stake in MEI Pharma during the fourth quarter valued at $454,000. 15.01% of the stock is currently owned by hedge funds and other institutional investors.

MEI Pharma Company Profile

MEI Pharma, Inc is an oncology company. The Company is focused on the clinical development of drugs and therapies for treatment of cancer. The Company’s portfolio of clinical drug candidates includes Pracinostat, ME-344 and PWT143. Pracinostat is an orally available histone deacetylase (HDAC) inhibitor indicated for the treatment of advanced hematologic diseases, such as acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:MEIP”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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