MEI Pharma (NASDAQ:MEIP) Downgraded by Laidlaw to “Hold”

Laidlaw lowered shares of MEI Pharma (NASDAQ:MEIP) from a buy rating to a hold rating in a report issued on Tuesday morning, MarketBeat Ratings reports.

MEIP has been the topic of several other reports. StockNews.com began coverage on MEI Pharma in a research report on Thursday, July 18th. They set a buy rating on the stock. Stifel Nicolaus reaffirmed a hold rating and set a $7.00 price objective on shares of MEI Pharma in a research report on Friday, April 12th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $7.00.

MEI Pharma Trading Up 2.9 %

MEIP opened at $3.56 on Tuesday. The company has a market cap of $23.71 million, a P/E ratio of 0.91 and a beta of 0.86. The business’s 50-day moving average price is $2.95 and its 200-day moving average price is $3.65. MEI Pharma has a 12 month low of $2.73 and a 12 month high of $7.87.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings data on Thursday, May 9th. The company reported ($1.37) EPS for the quarter, topping the consensus estimate of ($1.38) by $0.01. Equities research analysts forecast that MEI Pharma will post 3.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MEI Pharma

An institutional investor recently bought a new position in MEI Pharma stock. Cable Car Capital LLC bought a new stake in shares of MEI Pharma, Inc. (NASDAQ:MEIP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 611,440 shares of the company’s stock, valued at approximately $3,546,000. MEI Pharma comprises 3.9% of Cable Car Capital LLC’s holdings, making the stock its 10th largest holding. Cable Car Capital LLC owned about 9.18% of MEI Pharma as of its most recent SEC filing. 52.38% of the stock is owned by institutional investors and hedge funds.

MEI Pharma Company Profile

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.