MEI Pharma (NASDAQ:MEIP) Downgraded by Brookline Capital Management

Brookline Capital Management cut shares of MEI Pharma (NASDAQ:MEIP) from a strong-buy rating to a hold rating in a research note released on Monday, Zacks.com reports.

MEIP has been the subject of several other reports. Stifel Nicolaus reissued a hold rating and set a $7.00 price objective on shares of MEI Pharma in a report on Friday, April 12th. Laidlaw downgraded shares of MEI Pharma from a buy rating to a hold rating in a research note on Tuesday. Finally, StockNews.com initiated coverage on shares of MEI Pharma in a research note on Thursday, July 18th. They issued a buy rating on the stock. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $7.00.

MEI Pharma Trading Up 4.5 %

Shares of MEIP stock opened at $3.46 on Monday. MEI Pharma has a 1 year low of $2.73 and a 1 year high of $7.87. The firm’s 50 day moving average is $2.95 and its 200-day moving average is $3.66. The firm has a market capitalization of $23.04 million, a price-to-earnings ratio of 0.88 and a beta of 0.86.

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

Institutional Trading of MEI Pharma

An institutional investor recently bought a new position in MEI Pharma stock. National Bank of Canada FI bought a new stake in MEI Pharma, Inc. (NASDAQ:MEIP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,000 shares of the company’s stock, valued at approximately $36,000. National Bank of Canada FI owned approximately 0.09% of MEI Pharma as of its most recent filing with the Securities and Exchange Commission (SEC). 52.38% of the stock is currently owned by institutional investors.

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.