Brookline Capital Markets analyst Leah R. Cann maintained a Buy rating on MEI Pharma (MEIP – Research Report) yesterday and set a price target of $4.00. The company’s shares closed yesterday at $0.32.
R. Cann covers the Healthcare sector, focusing on stocks such as Moderna, Syros Pharmaceuticals, and Caribou Biosciences. According to TipRanks, R. Cann has an average return of 0.2% and a 41.04% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for MEI Pharma with a $4.50 average price target.
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Based on MEI Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $8.73 million and a GAAP net loss of $16.62 million. In comparison, last year the company earned a revenue of $7.76 million and had a GAAP net loss of $17.51 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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