MEI Pharma (MEIP) Receives a Buy from H.C. Wainwright

In a report released today, Andrew Fein from H.C. Wainwright maintained a Buy rating on MEI Pharma (MEIPResearch Report), with a price target of $10.00. The company’s shares closed last Thursday at $3.20.

According to TipRanks.com, Fein is a 5-star analyst with an average return of 22.0% and a 56.4% success rate. Fein covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Constellation Pharmaceuticals, and Global Blood Therapeutics.

MEI Pharma has an analyst consensus of Strong Buy, with a price target consensus of $8.67.

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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 $2.42 million and GAAP net loss of $31.31 million. In comparison, last year the company earned revenue of $1.24 million and had a GAAP net loss of $4.33 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.