Oppenheimer Releases a Buy Rating on MEI Pharma

In a report released today, Leah R. Cann from Oppenheimer assigned a Buy rating to MEI Pharma (NASDAQ: MEIP), with a price target of $6.50. The company’s shares closed yesterday at $2.11.

R. Cann observed:

“MEI Pharma announced today that a planned interim review of data supports continuation of its multicenter, investigator-sponsored study evaluating ME-344, in patients with HER2-negative breast cancer. MEI Pharma reported that the interim study data show that ME-344 was generally well-tolerated and, consistent with previous preclinical data, demonstrate the potential to reverse resistance to antiangiogenic therapy.”

According to TipRanks.com, Cann is a 4-star analyst with an average return of 10.4% and a 45.1% success rate. Cann covers the Healthcare sector, focusing on stocks such as miRagen Therapeutics Inc, CytomX Therapeutics Inc, and Crispr Therapeutics AG.

MEI Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $6.50.

The company has a one-year high of $3.26 and a one-year low of $1.48. Currently, MEI Pharma has an average volume of 135K.

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MEI Pharma, Inc. is an oncology company, which engages in clinical development of novel small molecules for the treatment of cancer. It develops drugs for the treatment of cancer. The company was founded on December 1, 2000 and is headquartered in San Diego, CA.

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