MEI Pharma, Inc. (MEIP)

[bladerunner1717]

Even with the leap in price, the stock is still selling at less than cash value. This means the EV (enterprise value) is less than zero. This makes no sense. Maybe we'll get some upgrades.

Here's what David Nierengarten of Wedbush wrote just five days ago:

[quote
However, Wedbush analyst David Nierengarten continues to be neutral, noting, “…we remain cautious on shares as financing remains to be secured to conduct the study.” With positive clinical success but questionable financial backing to support the next stages, Nierengarten reiterates a Hold rating with a price target of $2.00, marking an almost 37% upside from where MEIP shares last closed.
][/quote]

Now that MEIP has secured the financing for the trials, I would expect an upgrade from Nierengarten (as well as others).


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