MEI Pharma, Inc. (NASDAQ:MEIP) Receives $24.50 Consensus Price Target from Analysts

Shares of MEI Pharma, Inc. (NASDAQ:MEIPGet Free Report) have earned an average recommendation of “Hold” from the four brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $24.50.

A number of research analysts have commented on MEIP shares. StockNews.com started coverage on shares of MEI Pharma in a research report on Sunday. They issued a “hold” rating on the stock. TheStreet upgraded shares of MEI Pharma from a “d-” rating to a “c-” rating in a research note on Friday, November 17th.

Read Our Latest Report on MEI Pharma

Institutional Trading of MEI Pharma

A number of large investors have recently made changes to their positions in the company. Simplex Trading LLC purchased a new stake in shares of MEI Pharma during the second quarter worth approximately $28,000. Goldman Sachs Group Inc. increased its stake in shares of MEI Pharma by 8.9% during the first quarter. Goldman Sachs Group Inc. now owns 255,594 shares of the company’s stock worth $154,000 after buying an additional 20,818 shares during the period. BML Capital Management LLC purchased a new stake in shares of MEI Pharma during the second quarter worth approximately $151,000. Charles Schwab Investment Management Inc. increased its stake in shares of MEI Pharma by 6.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 734,296 shares of the company’s stock worth $443,000 after buying an additional 47,006 shares during the period. Finally, Two Sigma Investments LP increased its stake in shares of MEI Pharma by 26.9% during the first quarter. Two Sigma Investments LP now owns 233,931 shares of the company’s stock worth $54,000 after buying an additional 49,526 shares during the period. 41.92% of the stock is currently owned by hedge funds and other institutional investors.

MEI Pharma Price Performance

NASDAQ MEIP opened at $4.50 on Monday. The firm’s 50-day moving average is $5.86 and its two-hundred day moving average is $6.38. MEI Pharma has a 12 month low of $4.00 and a 12 month high of $7.97. The stock has a market capitalization of $29.97 million, a P/E ratio of 0.72 and a beta of 0.80.

MEI Pharma (NASDAQ:MEIPGet Free Report) last posted its earnings results on Thursday, November 9th. The company reported $8.46 EPS for the quarter, beating analysts’ consensus estimates of ($1.47) by $9.93. MEI Pharma had a net margin of 39.06% and a return on equity of 86.21%. The company had revenue of $65.30 million for the quarter. As a group, analysts anticipate that MEI Pharma will post 3.48 EPS for the current year.

MEI Pharma Dividend Announcement

The firm also recently declared a dividend, which was paid on Wednesday, December 6th. Shareholders of record on Friday, November 17th were paid a dividend of $1.75 per share. The ex-dividend date was Thursday, November 16th.

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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