MEI Pharma (MEIP) Receives a Buy from LifeSci Capital

By Ryan Adsit

In a report issued on July 2, Adam Evertts PhD from LifeSci Capital maintained a Buy rating on MEI Pharma (MEIPResearch Report), with a price target of $9.00. The company’s shares closed last Thursday at $3.49.

PhD has an average return of 17.9% when recommending MEI Pharma.

According to TipRanks.com, PhD is ranked #2536 out of 6749 analysts.

MEI Pharma has an analyst consensus of Strong Buy, with a price target consensus of $9.75, which is a 155.9% upside from current levels. In a report issued on July 2, BTIG also maintained a Buy rating on the stock with a $5.50 price target.

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Based on MEI Pharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.24 million and GAAP net loss of $4.33 million. In comparison, last year the company earned revenue of $1.25 million and had a GAAP net loss of $17.36 million.

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MEI Pharma, Inc. engages in the clinical development of therapies for cancer. Its drug candidates includes Pracinostat, an oral HDAC inhibitor that is being developed in combination with azacitidine for the treatment of acute myeloid leukemia and myelodysplastic syndrome. Its pipeline also consists of ME-401, an oral PI3K delta inhibitor; Voruciclib, an oral CDK inhibitor; and ME-344, a mitochondrial inhibitor. The company was founded on December 1, 2000 and is headquartered in San Diego, CA.