StockNews.com Upgrades MEI Pharma (NASDAQ:MEIP) to “Buy”

MEI Pharma (NASDAQ:MEIPGet Free Report) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

A number of other equities analysts have also recently weighed in on MEIP. TheStreet cut shares of MEI Pharma from a “c-” rating to a “d+” rating in a research report on Thursday, February 1st. Stifel Nicolaus dropped their target price on shares of MEI Pharma from $8.00 to $7.00 and set a “hold” rating for the company in a report on Wednesday, February 14th.

View Our Latest Stock Analysis on MEIP

MEI Pharma Stock Performance

NASDAQ:MEIP remained flat at $4.18 during trading hours on Wednesday. 10,649 shares of the company’s stock were exchanged, compared to its average volume of 22,466. The stock has a fifty day moving average of $5.06 and a 200-day moving average of $5.98. The firm has a market cap of $27.84 million, a price-to-earnings ratio of 1.41 and a beta of 0.81. MEI Pharma has a 52 week low of $4.13 and a 52 week high of $7.97.

Institutional Investors Weigh In On MEI Pharma

Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC boosted its stake in MEI Pharma by 186.1% during the second quarter. Renaissance Technologies LLC now owns 2,725,773 shares of the company’s stock worth $1,649,000 after buying an additional 1,773,200 shares during the period. Millennium Management LLC purchased a new position in MEI Pharma during the second quarter worth about $829,000. Cable Car Capital LLC acquired a new stake in shares of MEI Pharma during the fourth quarter worth about $3,546,000. Prudential Financial Inc. acquired a new stake in shares of MEI Pharma during the first quarter worth about $343,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of MEI Pharma during the first quarter worth about $317,000. Hedge funds and other institutional investors own 41.92% of the company’s stock.

MEI Pharma Company Profile

(Get Free Report)

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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