Zacks Investment Research cut shares of MEI Pharma, Inc. (NASDAQ:MEIP) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.
According to Zacks, “MEI Pharma, Inc. is an oncology company focused on the clinical development of novel therapeutics targeting cancer metabolism. The Company is focused on the clinical development of its two lead isoflavone-based drug candidates, ME-143 and ME-344. MEI Pharma, Inc., formerly known as Marshall Edwards, Inc., is based in San Diego. “
Other research analysts have also recently issued reports about the company. Cann reaffirmed a buy rating and set a $6.50 price objective on shares of MEI Pharma in a research note on Monday, June 26th. Oppenheimer Holdings, Inc. set a $7.00 price objective on MEI Pharma and gave the company a buy rating in a research note on Wednesday, June 14th.
Shares of MEI Pharma (MEIP) traded down 1.63% on Thursday, reaching $3.02. The company’s stock had a trading volume of 517,636 shares. MEI Pharma has a 12 month low of $1.32 and a 12 month high of $3.26. The stock has a 50 day moving average of $2.38 and a 200-day moving average of $1.82. The firm has a market cap of $111.05 million, a price-to-earnings ratio of 88.82 and a beta of 1.54.
MEI Pharma (NASDAQ:MEIP) last announced its quarterly earnings data on Thursday, May 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.02). The company had revenue of $4.51 million for the quarter, compared to the consensus estimate of $5 million. On average, analysts anticipate that MEI Pharma will post $0.02 EPS for the current year.
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Several hedge funds have recently bought and sold shares of MEIP. FMR LLC acquired a new stake in MEI Pharma during the fourth quarter valued at about $454,000. 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. Oxford Asset Management acquired a new stake in MEI Pharma during the first quarter valued at about $176,000. Renaissance Technologies LLC boosted its stake in MEI Pharma by 58.6% in the first quarter. Renaissance Technologies LLC now owns 1,564,428 shares of the company’s stock valued at $2,534,000 after buying an additional 578,009 shares during the last quarter. Finally, 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. 17.31% of the stock is currently owned by institutional investors.
About MEI Pharma
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).
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