Lowers MEI Pharma (NASDAQ:MEIP) to Hold

company. The stock was downgraded because analysts think it is now fairly valued.

In a report released on Wednesday morning, the rating went from buy to hold.

Other analysts have recently also commented on the company. Jefferies Financial Group downgraded MEI Pharma's rating from hold to underperform in a report published on February 8th. In a report published on Monday, the 13th of February, HC Wainwright lowered its target price for MEI Pharma to $40 and gave it a buy recommendation. Piper Sandler lowered MEI Pharma's rating from overweight to neutral in a report published on Friday, 24th February. One analyst assigned the stock a sell, four a hold and one a buy. On Wednesday, the stock opened at $5.09. The 50-day moving average of the business is $6.73, and its 200 day moving average is also $6.46. The stock's market capitalization is $33.90 million. It has a price to earnings ratio of -1.11, and a beta value of 1.02. MEI Pharma's low for the past twelve months is $4.00, and its high for that same period is $13.60.

The company announced its last quarterly earnings on Thursday, 9th February. The company's earnings per share were $1.60, exceeding the consensus estimate of ($3.20). Revenue for the quarter was $32.74 millions, which is higher than analysts' expectations of $8.69 million. MEI Pharma posted a negative return of equity of 88.33%, and a net margin of -49.80%. Analysts on the sell-side predict that MEI Pharma's earnings per share will be -5.4 for this year.

Hedge Funds weigh in on MEI Pharma

Hedge funds and institutional investors have recently increased or decreased their stakes. Prudential Financial, Inc. purchased a new position of $30,000 in MEI Pharma at the end of the third quarter. UBS Group AG increased its stake in MEI Pharma during the fourth quarter by 115.0%. UBS Group AG owns 132.684 shares worth $32,000, after buying an additional 70.959 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in MEI Pharma during the second quarter by 483.3%. BNP Paribas Arbitrage SA owns 62.963 shares valued at $38,000, after buying 52.169 additional shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake of MEI Pharma shares during the third quarter, valued at $39,000. Annandale Capital LLC also bought shares of MEI Pharma in the third quarter for $39,000. Institutional investors own 35.74 % of the company's stock.

MEI Pharma Company profile

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MEI Pharma, Inc. is a pharmaceutical firm that develops pharmaceutical compounds. Zandelisib and Voruciclib are among its products. The company was established on December 1, 2000, and has its headquarters in San Diego. offers a FREE daily email newsletter