LifeSci Capital Believes MEI Pharma (MEIP) Still Has Room to Grow


LifeSci Capital analyst Adam Evertts PhD maintained a Buy rating on MEI Pharma (MEIP) on June 19 and set a price target of $9.00. The company’s shares closed last Friday at $3.99, close to its 52-week high of $4.33.

PhD has an average return of 43.1% when recommending MEI Pharma.

According to TipRanks.com, PhD is ranked #2547 out of 6702 analysts.

Currently, the analyst consensus on MEI Pharma is a Strong Buy with an average price target of $11.40.

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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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