MEI Pharma (NASDAQ:MEIP) Rating Increased to Buy at StockNews.com

MEI Pharma (NASDAQ:MEIPGet Free Report) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Several other brokerages have also recently weighed in on MEIP. Stifel Nicolaus decreased their price objective on MEI Pharma from $8.00 to $7.00 and set a “hold” rating for the company in a report on Wednesday, February 14th. TheStreet cut MEI Pharma from a “c-” rating to a “d+” rating in a report on Thursday, February 1st.

Check Out Our Latest Stock Analysis on MEIP

MEI Pharma Stock Performance

Shares of MEIP remained flat at $4.18 during midday trading on Wednesday. The company’s stock had a trading volume of 10,649 shares, compared to its average volume of 22,466. The firm has a fifty day moving average of $5.06 and a 200 day moving average of $5.98. MEI Pharma has a 1 year low of $4.13 and a 1 year high of $7.97. The firm has a market capitalization of $27.84 million, a price-to-earnings ratio of 1.41 and a beta of 0.81.

Hedge Funds Weigh In On MEI Pharma

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in MEI Pharma by 4.4% during the third quarter. Vanguard Group Inc. now owns 7,668,708 shares of the company’s stock worth $2,965,000 after purchasing an additional 322,969 shares during the period. BlackRock Inc. grew its holdings in MEI Pharma by 2.7% during the first 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 during the period. Renaissance Technologies LLC grew its holdings in MEI Pharma by 5.3% during the first 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 during the period. State Street Corp boosted its holdings in shares of MEI Pharma by 3.3% during the first quarter. State Street Corp now owns 1,949,006 shares of the company’s stock worth $1,174,000 after acquiring an additional 61,832 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of MEI Pharma during the second quarter worth approximately $829,000. Institutional investors own 41.92% of the company’s stock.

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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