H.C. Wainwright Remains a Buy on MEI Pharma (MEIP)

H.C. Wainwright analyst Andrew Fein reiterated a Buy rating on MEI Pharma (MEIP) on May 14 and set a price target of $10.00. The company’s shares closed last Friday at $2.90.

According to TipRanks.com, Fein is a 5-star analyst with an average return of 10.6% and a 47.6% success rate. Fein covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Constellation Pharmaceuticals, and Proteostasis Therapeutics.

MEI Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $9.50, a 225.3% upside from current levels. In a report issued on May 11, JonesTrading also maintained a Buy rating on the stock with a $9.00 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.

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