MEI Pharma Inc. [NASDAQ: MEIP] surged by $0.01 during the normal trading session on Thursday and reaching a high of $1.835 during the day while it closed the day at $1.81. The company report on March 24, 2022 that MEI Pharma and Kyowa Kirin Provide Regulatory Update on Zandelisib Following Meeting with the FDA.
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– MEI to Host Zandelisib Program Update Webcast Today at 4:30 p.m. Eastern Time –.
MEI Pharma, Inc. (NASDAQ: MEIP) and Kyowa Kirin Co., Ltd. (Kyowa Kirin, TSE: 4151), today provided an update after a recent meeting with the U.S. Food Drug Administration (FDA) to discuss the pursuit of a marketing authorization for zandelisib, a phosphatidylinositol-3-kinase (“PI3K”) inhibitor drug candidate, via the accelerated approval pathway under 21 CFR Part 314.500, Subpart H, based on data generated by the single arm Phase 2 TIDAL study. In the meeting, the FDA informed the companies of its position that a randomized trial is now needed to adequately assess drug efficacy and safety of PI3K inhibitor drug candidates, including zandelisib. Based on this view, the agency discouraged a filing based on the Phase 2 TIDAL study data and emphasized that the companies continue efforts with the ongoing, randomized Phase 3 COASTAL study as planned. Accordingly, in line with the FDA’s recommendation, the companies do not plan to submit an FDA marketing application based on the single arm Phase 2 TIDAL study. In addition, while the FDA stated that safety on the 60 mg intermittent schedule appears reasonable, it recommended continued dose exploration to further support the current dose and regimen.
MEI Pharma Inc. stock has also loss -4.23% of its value over the past 7 days. However, MEIP stock has declined by -29.02% in the 3 months of the year. Over the past six months meanwhile, it has lost -37.37% and lost -32.21% year-on date.
The market cap for MEIP stock reached $255.54 million, with 126.72 million shares outstanding and 94.33 million shares in the current float. Compared to the average trading volume of 979.79K shares, MEIP reached a trading volume of 2175500 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about MEI Pharma Inc. [MEIP]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MEIP shares is $9.90 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MEIP stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Jefferies have made an estimate for MEI Pharma Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 03, 2022. While these analysts kept the previous recommendation, Alliance Global Partners raised their target price to Buy. The new note on the price target was released on September 22, 2020, representing the official price target for MEI Pharma Inc. stock. Previously, the target price had yet another raise to $16, while SunTrust analysts kept a Buy rating on MEIP stock.
The Average True Range (ATR) for MEI Pharma Inc. is set at 0.11, with the Price to Sales ratio for MEIP stock in the period of the last 12 months amounting to 5.79. The Price to Book ratio for the last quarter was 2.97, with the Price to Cash per share for the same quarter was set at 1.32.
MEIP stock trade performance evaluation
MEI Pharma Inc. [MEIP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.23. With this latest performance, MEIP shares dropped by -7.65% in over the last four-week period, additionally sinking by -37.37% over the last 6 months – not to mention a drop of -48.73% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MEIP stock in for the last two-week period is set at 42.99, with the RSI for the last a single of trading hit 43.17, and the three-weeks RSI is set at 42.99 for MEI Pharma Inc. [MEIP]. The present Moving Average for the last 50 days of trading for this stock 2.0100, while it was recorded at 1.8060 for the last single week of trading, and 2.6053 for the last 200 days.
MEI Pharma Inc. [MEIP]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and MEI Pharma Inc. [MEIP] shares currently have an operating margin of -272.90 and a Gross Margin at +94.49. MEI Pharma Inc.’s Net Margin is presently recorded at -198.06.
Return on Total Capital for MEIP is now -108.99, given the latest momentum, and Return on Invested Capital for the company is -79.68. Return on Equity for this stock declined to -84.59, with Return on Assets sitting at -26.35. When it comes to the capital structure of this company, MEI Pharma Inc. [MEIP] has a Total Debt to Total Equity ratio set at 20.06. Additionally, MEIP Total Debt to Total Capital is recorded at 16.71, with Total Debt to Total Assets ending up at 4.77. Long-Term Debt to Equity for the company is recorded at 17.82, with the Long-Term Debt to Total Capital now at 14.84.
Reflecting on the efficiency of the workforce at the company, MEI Pharma Inc. [MEIP] managed to generate an average of -$665,461 per employee. Receivables Turnover for the company is 1.64 with a Total Asset Turnover recorded at a value of 0.13.MEI Pharma Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.60 and a Current Ratio set at 6.60.
Earnings per share (EPS) analysis for MEI Pharma Inc. [MEIP] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MEIP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for MEI Pharma Inc. go to -0.10%.
MEI Pharma Inc. [MEIP]: Insider Ownership positions
There are presently around $165 million, or 69.00% of MEIP stock, in the hands of institutional investors. The top three institutional holders of MEIP stocks are: BIOIMPACT CAPITAL LLC with ownership of 12,350,971, which is approximately -1.146% of the company’s market cap and around 0.57% of the total institutional ownership; FIRST LIGHT ASSET MANAGEMENT, LLC, holding 11,217,426 shares of the stock with an approximate value of $20.3 million in MEIP stocks shares; and WASATCH ADVISORS INC, currently with $16.91 million in MEIP stock with ownership of nearly 47.361% of the company’s market capitalization.
Positions in MEI Pharma Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 53 institutional holders increased their position in MEI Pharma Inc. [NASDAQ:MEIP] by around 16,312,041 shares. Additionally, 55 investors decreased positions by around 4,933,694 shares, while 20 investors held positions by with 70,138,146 shares. The mentioned changes placed institutional holdings at 91,383,881 shares, according to the latest SEC report filing. MEIP stock had 20 new institutional investments in for a total of 5,171,641 shares, while 19 institutional investors sold positions of 2,944,427 shares during the same period.