MEI Pharma Inc. (NASDAQ:MEIP)’s share price rose 2.9% during mid-day trading on Tuesday . The stock traded as high as $2.13 and last traded at $2.10, with a volume of 1,067,060 shares trading hands. The stock had previously closed at $2.04.

MEIP has been the subject of several analyst reports. Zacks Investment Research raised shares of MEI Pharma from a “hold” rating to a “buy” rating and set a $1.75 price target for the company in a report on Friday, August 5th. Wedbush reissued a “neutral” rating and set a $2.00 price target on shares of MEI Pharma in a report on Tuesday, August 2nd.

The company’s market capitalization is $67.29 million. The firm has a 50 day moving average of $1.62 and a 200-day moving average of $1.40.

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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