MEI Pharma (NASDAQ:MEIP) Downgraded to Hold at Laidlaw

MEI Pharma (NASDAQ:MEIP) was downgraded by equities researchers at Laidlaw from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports.

Several other analysts have also issued reports on MEIP. StockNews.com started coverage on shares of MEI Pharma in a research report on Thursday, July 18th. They set a “buy” rating for the company. Stifel Nicolaus reaffirmed a “hold” rating and set a $7.00 price objective on shares of MEI Pharma in a research note on Friday, April 12th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, MEI Pharma currently has an average rating of “Hold” and a consensus price target of $7.00.

MEI Pharma Stock Down 9.3 %

NASDAQ MEIP opened at $3.31 on Tuesday. The company has a 50-day simple moving average of $2.94 and a two-hundred day simple moving average of $3.67. MEI Pharma has a 12-month low of $2.73 and a 12-month high of $7.87. The firm has a market cap of $22.04 million, a price-to-earnings ratio of 0.84 and a beta of 0.86.

MEI Pharma (NASDAQ:MEIP) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($1.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.38) by $0.01. Equities analysts expect 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 purchased a new position in MEI Pharma, Inc. (NASDAQ:MEIP) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 611,440 shares of the company’s stock, valued at approximately $3,546,000. MEI Pharma makes up about 3.9% of Cable Car Capital LLC’s holdings, making the stock its 10th largest position. Cable Car Capital LLC owned 9.18% of MEI Pharma at the end of the most recent reporting period. Institutional investors own 52.38% of the company’s stock.

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.