Roth Capital Maintains Buy On MEI Pharma Shares, $22 PT


In a research report issued today, Roth Capital analyst Joseph Pantginis maintained a Buy rating on MEI Pharma (NASDAQ:MEIP) with a price target of $22.00.

Pantginis observed, “MEIP is progressing quickly towards multiple key catalysts. Focus, in our belief, will be on the expected data from three clinical studies of pracinostat in frontline AML and frontline and r/r MDS at ASH and in 1Q15. We believe these data catalysts will significantly increase both visibility and value of the company, triggering interest from investors and potential partners. We are adding MEIP to the Roth Focus List and raising our price target to $22 from $20. Event We are adding MEI Pharma to the Roth Focus List based on our belief that MEIP is well positioned with its lead oral HDAC inhibitor (HDACi), pracinostat, for the treatment of AML and MDS patients. While we focus on pracinostat as the key value driver, the company has additional drug candidates in its pipeline: ME-344, a mitochondrial inhibitor and PWT143, a PI3K delta inhibitor. We expect the following upcoming catalysts within the next ten months: 1) Pracinostat – data from 30 patients in the frontline AML study (MEI-004) expected at ASH 2) Pracinostat – possible update at ASH (or at a later time) from the r/r MDS study (MEI-005) 3) Pracinostat – topline data from the frontline MDS study (MEI-003) expected in 1Q15 (enrollment is complete) 4) Data from the Phase Ib ME-344 study SCLC and platinum refractory ovarian cancer expected in 2Q15 5) Completion of IND-enabling toxicity studies for PWT143 expected by YE14, with potential IND submission during 2015.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a total average return of -14.2% and a 28.6% success rate. Pantginis has a 6.9% average return when recommending MEIP, and is ranked #3329 out of 3335 analysts.

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