In a report released today, Matthew Cross from JonesTrading maintained a Buy rating on MEI Pharma (MEIP), with a price target of $9.00. The company’s shares closed last Tuesday at $3.91, close to its 52-week high of $4.33.
According to TipRanks.com, Cross is a 5-star analyst with an average return of 13.5% and a 40.1% success rate. Cross covers the Healthcare sector, focusing on stocks such as Actinium Pharmaceuticals, Syros Pharmaceuticals, and Catalyst Biosciences.
MEI Pharma has an analyst consensus of Strong Buy, with a price target consensus of $11.00, which is a 160.7% upside from current levels. In a report issued on May 28, SunTrust Robinson also initiated coverage with a Buy rating on the stock with a $16.00 price target.
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The company has a one-year high of $4.33 and a one-year low of $0.72. Currently, MEI Pharma has an average volume of 2.11M.
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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.
