Oppenheimer Holdings, Inc. Analysts Give MEI Pharma, Inc. (MEIP) a $7.00 Price Target

Oppenheimer Holdings, Inc. set a $7.00 target price on MEI Pharma, Inc. (NASDAQ:MEIP) in a research note issued to investors on Wednesday. The brokerage currently has a buy rating on the stock.

Several other research firms have also recently commented on MEIP. Cann reissued an outperform rating on shares of MEI Pharma in a research note on Wednesday, May 24th. Zacks Investment Research raised shares of MEI Pharma from a hold rating to a buy rating and set a $2.00 price objective on the stock in a research note on Friday, February 17th.

Shares of MEI Pharma (MEIP) opened at 2.06 on Wednesday. The company’s 50-day moving average price is $1.82 and its 200 day moving average price is $1.63. MEI Pharma has a one year low of $1.25 and a one year high of $2.35. The company has a market cap of $75.75 million, a PE ratio of 60.59 and a beta of 1.29.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings results on Thursday, May 4th. The company reported ($0.02) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.02). The company had revenue of $4.51 million for the quarter, compared to the consensus estimate of $5 million. Equities analysts forecast that MEI Pharma will post $0.02 EPS for the current fiscal year.

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Institutional investors have recently made changes to their positions in the stock. TFS Capital LLC boosted its position in shares of MEI Pharma by 91.5% in the first quarter. TFS Capital LLC now owns 75,489 shares of the company’s stock worth $122,000 after buying an additional 36,078 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of MEI Pharma by 131.7% in the first quarter. Goldman Sachs Group Inc. now owns 80,570 shares of the company’s stock worth $131,000 after buying an additional 45,793 shares during the last quarter. Oxford Asset Management acquired a new position in shares of MEI Pharma during the first quarter worth about $176,000. Geode Capital Management LLC boosted its position in shares of MEI Pharma by 10.4% in the first quarter. Geode Capital Management LLC now owns 141,562 shares of the company’s stock worth $229,000 after buying an additional 13,347 shares during the last quarter. Finally, FMR LLC acquired a new position in shares of MEI Pharma during the fourth quarter worth about $454,000. 17.27% of the stock is currently owned by hedge funds and other institutional investors.

About MEI Pharma

MEI Pharma, Inc is an oncology company. The Company is focused on the clinical development of drugs and therapies for treatment of cancer. The Company’s portfolio of clinical drug candidates includes Pracinostat, ME-344 and PWT143. Pracinostat is an orally available histone deacetylase (HDAC) inhibitor indicated for the treatment of advanced hematologic diseases, such as acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS).

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