Zacks Investment Research upgraded shares of MEI Pharma (NASDAQ:MEIP) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

According to Zacks, “MEI Pharma, Inc. is an oncology company focused on the clinical development of novel therapeutics targeting cancer metabolism. The Company is focused on the clinical development of its two lead isoflavone-based drug candidates, ME-143 and ME-344. MEI Pharma, Inc., formerly known as Marshall Edwards, Inc., is based in San Diego. “

Several other research analysts have also issued reports on MEIP. Cann restated a buy rating on shares of MEI Pharma in a research report on Thursday, February 8th. ValuEngine lowered MEI Pharma from a hold rating to a sell rating in a research report on Friday, December 1st. Finally, Oppenheimer set a $7.00 target price on MEI Pharma and gave the company a buy rating in a research report on Monday, January 8th.

MEI Pharma (NASDAQ:MEIP) opened at $2.11 on Friday. MEI Pharma has a 12-month low of $1.48 and a 12-month high of $3.26. The stock has a market capitalization of $79.29, a P/E ratio of -3.91 and a beta of 2.11.

Several large investors have recently made changes to their positions in MEIP. JPMorgan Chase & Co. boosted its position in shares of MEI Pharma by 2,508.7% during the second quarter. JPMorgan Chase & Co. now owns 67,825 shares of the company’s stock valued at $162,000 after buying an additional 65,225 shares during the period. Nationwide Fund Advisors purchased a new position in shares of MEI Pharma during the third quarter valued at approximately $229,000. Macquarie Group Ltd. purchased a new position in shares of MEI Pharma during the third quarter valued at approximately $306,000. Dimensional Fund Advisors LP purchased a new position in shares of MEI Pharma during the third quarter valued at approximately $402,000. Finally, Russell Investments Group Ltd. boosted its position in shares of MEI Pharma by 659.3% during the third quarter. Russell Investments Group Ltd. now owns 204,199 shares of the company’s stock valued at $547,000 after buying an additional 177,306 shares during the period. Institutional investors and hedge funds own 21.90% of the company’s stock.

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MEI Pharma Company Profile

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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