MEI Pharma’s (MEIP) “Hold” Rating Reaffirmed at Stifel Nicolaus

Stifel Nicolaus reaffirmed their hold rating on shares of MEI Pharma (NASDAQ:MEIP) in a research report report published on Friday, Benzinga reports. They currently have a $7.00 price target on the stock.

A number of other brokerages have also recently issued reports on MEIP. StockNews.com raised shares of MEI Pharma from a hold rating to a buy rating in a research note on Wednesday, February 28th. TheStreet lowered shares of MEI Pharma from a c- rating to a d+ rating in a report on Thursday, February 1st.

MEI Pharma Stock Performance

Shares of MEIP opened at $3.25 on Friday. MEI Pharma has a fifty-two week low of $3.21 and a fifty-two week high of $7.97. The firm has a market cap of $21.65 million, a price-to-earnings ratio of 1.09 and a beta of 0.77. The firm has a 50 day moving average price of $4.06 and a 200-day moving average price of $5.46.

MEI Pharma (NASDAQ:MEIP) last announced its quarterly earnings data on Tuesday, February 13th. The company reported ($1.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.46) by ($0.20). MEI Pharma had a net margin of 39.06% and a return on equity of 39.72%. As a group, equities research analysts predict that MEI Pharma will post 3.24 earnings per share for the current year.

Institutional Investors Weigh In On MEI Pharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in MEI Pharma by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 7,668,708 shares of the company’s stock valued at $2,965,000 after buying an additional 322,969 shares during the last quarter. BlackRock Inc. raised its holdings in MEI Pharma by 2.7% in the 1st quarter. BlackRock Inc. now owns 6,867,423 shares of the company’s stock worth $4,138,000 after purchasing an additional 177,552 shares in the last quarter. Renaissance Technologies LLC raised its holdings in MEI Pharma by 5.3% in the 1st quarter. Renaissance Technologies LLC now owns 2,804,357 shares of the company’s stock worth $642,000 after purchasing an additional 140,000 shares in the last quarter. State Street Corp raised its holdings in MEI Pharma by 3.3% in the 1st quarter. State Street Corp now owns 1,949,006 shares of the company’s stock worth $1,174,000 after purchasing an additional 61,832 shares in the last quarter. Finally, Millennium Management LLC bought a new position in MEI Pharma in the 2nd quarter worth $829,000. 52.38% of the stock is currently owned by institutional investors.

About MEI Pharma

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.