Market Analysts see MEI Pharma Inc. [MEIP] falling to $2. Time to buy?

MEI Pharma Inc. [NASDAQ: MEIP] slipped around -0.05 points on Thursday, while shares priced at $0.24 at the close of the session, down -18.64%. The company report on February 23, 2023 that MEI Pharma and Infinity Pharmaceuticals Announce Definitive Merger Agreement to Advance Three Promising Clinical Oncology Candidates.

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Combination will create a company with a diverse product development pipeline led by a planned new global Phase 2 clinical trial evaluating eganelisib in head and neck squamous cell carcinoma (HNSCC).

Projected ~$100M cash balance of combined company expected to fund operations through mid-2025 and to clinical data over the next 12 to 24 months.

MEI Pharma Inc. stock is now -1.48% down from its year-to-date (YTD) trading value. MEIP Stock saw the intraday high of $0.299 and lowest of $0.2175 per share. The company’s 52-week high price is 2.20, which means current price is +10.34% above from all time high which was touched on 02/07/23.

Compared to the average trading volume of 1.24M shares, MEIP reached a trading volume of 6512063 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $1.72 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 2.90. 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.

Wells Fargo have made an estimate for MEI Pharma Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on March 25, 2022. While these analysts kept the previous recommendation, Stifel dropped their target price from $6 to $2. The new note on the price target was released on March 25, 2022, representing the official price target for MEI Pharma Inc. stock. Previously, the target price had yet another drop from $4 to $1, while Jefferies kept a Hold rating on MEIP stock.

The Average True Range (ATR) for MEI Pharma Inc. is set at 0.03, with the Price to Sales ratio for MEIP stock in the period of the last 12 months amounting to 0.49. The Price to Book ratio for the last quarter was 0.67, with the Price to Cash per share for the same quarter was set at 0.96.

How has MEIP stock performed recently?

MEI Pharma Inc. [MEIP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.82. With this latest performance, MEIP shares dropped by -26.15% in over the last four-week period, additionally sinking by -54.29% over the last 6 months – not to mention a drop of -88.18% 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 34.21, with the RSI for the last a single of trading hit 28.30, and the three-weeks RSI is set at 38.10 for MEI Pharma Inc. [MEIP]. The present Moving Average for the last 50 days of trading for this stock 0.2916, while it was recorded at 0.2920 for the last single week of trading, and 0.4214 for the last 200 days.

MEI Pharma Inc. [MEIP]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and MEI Pharma Inc. [MEIP] shares currently have an operating margin of -185.48 and a Gross Margin at +96.97. MEI Pharma Inc.’s Net Margin is presently recorded at -133.80.

Return on Equity for this stock declined to -116.14, with Return on Assets sitting at -30.95.

MEI Pharma Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.90 and a Current Ratio set at 5.90.

Earnings analysis for MEI Pharma Inc. [MEIP]

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%.

Insider trade positions for MEI Pharma Inc. [MEIP]

There are presently around $12 million, or 38.10% of MEIP stock, in the hands of institutional investors. The top three institutional holders of MEIP stocks are: ANSON FUNDS MANAGEMENT LP with ownership of 10,617,959, which is approximately 130.303% of the company’s market cap and around 0.48% of the total institutional ownership; NEA MANAGEMENT COMPANY, LLC, holding 8,533,072 shares of the stock with an approximate value of $2.05 million in MEIP stocks shares; and VANGUARD GROUP INC, currently with $1.84 million in MEIP stock with ownership of nearly 0.03% of the company’s market capitalization.

Positions in MEI Pharma Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 20 institutional holders increased their position in MEI Pharma Inc. [NASDAQ:MEIP] by around 10,005,902 shares. Additionally, 32 investors decreased positions by around 8,076,403 shares, while 20 investors held positions by with 31,567,910 shares. The mentioned changes placed institutional holdings at 49,650,215 shares, according to the latest SEC report filing. MEIP stock had 8 new institutional investments in for a total of 2,119,295 shares, while 18 institutional investors sold positions of 6,834,098 shares during the same period.


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