Stifel Nicolaus Reiterates Hold Rating for MEI Pharma (NASDAQ:MEIP)

MEI Pharma (NASDAQ:MEIPGet Free Report)‘s stock had its “hold” rating reiterated by equities research analysts at Stifel Nicolaus in a report released on Friday, Benzinga reports. They currently have a $7.00 price target on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 114.07% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. StockNews.com raised shares of MEI Pharma from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. TheStreet cut shares of MEI Pharma from a “c-” rating to a “d+” rating in a research report on Thursday, February 1st.

Get Our Latest Stock Analysis on MEIP

MEI Pharma Stock Performance

Shares of NASDAQ MEIP opened at $3.27 on Friday. The business’s 50-day simple moving average is $4.09 and its 200-day simple moving average is $5.50. MEI Pharma has a 52 week low of $3.21 and a 52 week high of $7.97. The firm has a market cap of $21.78 million, a price-to-earnings ratio of 1.10 and a beta of 0.77.

MEI Pharma (NASDAQ:MEIPGet Free Report) last posted its earnings results on Tuesday, February 13th. The company reported ($1.66) earnings per share for the quarter, missing the consensus estimate of ($1.46) by ($0.20). MEI Pharma had a return on equity of 39.72% and a net margin of 39.06%. As a group, equities research analysts forecast that MEI Pharma will post 3.24 earnings per share for the current year.

Hedge Funds Weigh In On MEI Pharma

Large investors have recently modified their holdings of the company. National Bank of Canada FI bought a new stake in shares of MEI Pharma in the fourth quarter valued at $36,000. Northern Trust Corp boosted its holdings in MEI Pharma by 134.9% in the 4th quarter. Northern Trust Corp now owns 24,780 shares of the company’s stock worth $144,000 after buying an additional 14,230 shares during the period. Bridgeway Capital Management LLC grew its stake in MEI Pharma by 46.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 26,869 shares of the company’s stock valued at $156,000 after buying an additional 8,500 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in MEI Pharma by 483.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 62,963 shares of the company’s stock valued at $38,000 after acquiring an additional 52,169 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in shares of MEI Pharma by 969.4% in the first quarter. MetLife Investment Management LLC now owns 79,966 shares of the company’s stock worth $48,000 after acquiring an additional 72,488 shares during the period. 52.38% of the stock is currently owned by institutional investors.

About MEI Pharma

(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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