Shares of MEI Pharma Inc. (NASDAQ:MEIP) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $2.28 and last traded at $2.00, with a volume of 8,073,297 shares trading hands. The stock had previously closed at $1.61.

Several analysts recently issued reports on the stock. Zacks Investment Research cut shares of MEI Pharma from a “hold” rating to a “sell” rating in a research note on Wednesday, June 15th. Wedbush reissued a “neutral” rating and issued a $2.00 price target on shares of MEI Pharma in a research note on Tuesday, August 2nd.

The firm’s 50 day moving average is $1.41 and its 200-day moving average is $1.34. The stock’s market capitalization is $70.36 million.

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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