MEI Pharma (NASDAQ:MEIP) Now Covered by StockNews.com

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

MEI Pharma Price Performance

Shares of MEIP opened at $2.70 on Friday. MEI Pharma has a 12 month low of $2.30 and a 12 month high of $6.05. The stock has a fifty day moving average price of $2.73 and a 200 day moving average price of $2.93. The company has a market cap of $17.99 million, a P/E ratio of -0.39 and a beta of 0.78.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.20) EPS for the quarter. As a group, research analysts anticipate that MEI Pharma will post -5.1 earnings per share for the current year.

Institutional Investors Weigh In On MEI Pharma

Hedge funds have recently made changes to their positions in the business. World Investment Advisors LLC acquired a new stake in MEI Pharma in the 3rd quarter valued at approximately $71,000. Corsair Capital Management L.P. bought a new stake in shares of MEI Pharma during the third quarter valued at about $69,000. Finally, National Bank of Canada FI raised its stake in shares of MEI Pharma by 43.5% during the second quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock valued at $94,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors own 52.38% of the company’s stock.

About MEI Pharma

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.