MEI Pharma (MEIP) Receives a Buy from BTIG

BTIG analyst Thomas Shrader maintained a Buy rating on MEI Pharma (MEIPResearch Report) on July 2 and set a price target of $5.50. The company’s shares closed last Thursday at $3.49.

According to TipRanks.com, Shrader is a 5-star analyst with an average return of 20.6% and a 41.8% success rate. Shrader covers the Healthcare sector, focusing on stocks such as Minerva Neurosciences, Mersana Therapeutics, and Denali Therapeutics.

Currently, the analyst consensus on MEI Pharma is a Strong Buy with an average price target of $10.42, implying a 173.5% upside from current levels. In a report issued on June 19, LifeSci Capital also maintained a Buy rating on the stock with a $9.00 price target.

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The company has a one-year high of $4.46 and a one-year low of $0.72. Currently, MEI Pharma has an average volume of 2.6M.

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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.