MEI Pharma Inc. (NASDAQ:MEIP) was up 3% during trading on Wednesday . The stock traded as high as $2.06 and last traded at $2.05, with a volume of 559,969 shares traded. The stock had previously closed at $1.99.

Several research analysts have recently issued reports on MEIP shares. Zacks Investment Research raised MEI Pharma from a “hold” rating to a “buy” rating and set a $1.75 price target for the company in a research note on Friday, August 5th. Wedbush reaffirmed a “neutral” rating and set a $2.00 price target on shares of MEI Pharma in a research note on Tuesday, August 2nd.

The stock’s market capitalization is $69.16 million. The stock has a 50-day moving average of $1.52 and a 200-day moving average of $1.37.

MEI Pharma, Inc is an oncology company. The Company is focused on the clinical development of drugs and therapies for treatment of cancer. The Company’s portfolio of clinical drug candidates includes Pracinostat, ME-344 and PWT143. Pracinostat is an orally available histone deacetylase (HDAC) inhibitor indicated for the treatment of advanced hematologic diseases, such as acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS).

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