MEI Pharma (NASDAQ:MEIP) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research note released on Friday. The firm issued a buy rating on the stock.

Other analysts also recently issued reports about the stock. Brookline Capital Management downgraded shares of MEI Pharma from a strong-buy rating to a hold rating in a report on Monday, July 22nd. Laidlaw cut MEI Pharma from a buy rating to a hold rating in a research note on Tuesday, July 23rd. Finally, Stifel Nicolaus restated a hold rating and issued a $7.00 price target on shares of MEI Pharma in a report on Friday, April 12th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $7.00.

MEI Pharma Stock Performance

MEIP opened at $3.56 on Friday. The stock has a market capitalization of $23.71 million, a price-to-earnings ratio of 0.91 and a beta of 0.86. The company has a fifty day moving average of $2.95 and a 200 day moving average of $3.62. MEI Pharma has a fifty-two week low of $2.73 and a fifty-two week high of $7.87.

MEI Pharma (NASDAQ:MEIP) last posted its earnings results on Thursday, May 9th. The company reported ($1.37) EPS for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.01. On average, equities research analysts forecast that MEI Pharma will post 3.22 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MEI Pharma stock. Cable Car Capital LLC purchased a new position in shares of MEI Pharma, Inc. (NASDAQ:MEIP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 611,440 shares of the company’s stock, valued at approximately $3,546,000. MEI Pharma makes up approximately 3.9% of Cable Car Capital LLC’s holdings, making the stock its 10th biggest holding. Cable Car Capital LLC owned approximately 9.18% of MEI Pharma at the end of the most recent quarter. Institutional investors and hedge funds own 52.38% of the company’s stock.

MEI Pharma Company Profile

MEI Pharma, Inc, a clinical-stage pharmaceutical company, focuses on the development and commercialization of various therapies for the treatment of cancer. The company develops Zandelisib, an oral phosphatidylinositol 3-kinase delta inhibitor for the treatment of patients with relapsed/refractory follicular lymphoma; and Voruciclib, an oral cyclin-dependent kinase 9 inhibitor, which is in Phase I clinical trial for acute myeloid leukemia and B-cell malignancies.