MEI Pharma with ticker code (MEIP) now have 10 analysts covering the stock with the consensus suggesting a rating of ‘Buy’. The target price ranges between 13 and 5.5 and has a mean target at 9.6. Given that the stocks previous close was at 3.7 this now indicates there is a potential upside of 159.5%. The day 50 moving average is 3.56 while the 200 day moving average is 3.05. The company has a market cap of $412m. Company Website: http://www.meipharma.com
MEI Pharma, a late-stage pharmaceutical company, focuses on the development of various therapies for the treatment of cancer. The company develops Zandelisib, an oral phosphatidylinositol 3-kinase delta inhibitor that is in Phase II clinical trial for the treatment of patients with relapsed/refractory follicular lymphoma, as well as in Phase Ib multi-arm trial to treat B-cell malignancies; and Voruciclib, an oral cyclin-dependent kinase inhibitor, which is in Phase Ib clinical trial for acute myeloid leukemia and B-cell malignancies. It also develops ME-344, a mitochondrial inhibitor targeting the oxidative phosphorylation complex that is in Phase I clinical trial for the treatment of human epidermal growth factor receptor 2 negative breast cancer; and Pracinostat, an oral available histone deacetylase inhibitor, which is in Phase II clinical trial to treat patients with myelodysplastic syndrome. The company has a license, development, and commercialization agreement with Kyowa Kirin Company; a clinical collaboration with BeiGene, Ltd.; a license, development, manufacturing, and commercialization agreement with Helsinn Healthcare SA; and license agreements with Presage Biosciences and CyDex Pharmaceuticals The company was formerly known as Marshall Edwards and changed its name to MEI Pharma in July 2012. MEI Pharma was founded in 2000 and is headquartered in San Diego, California.