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

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

Other analysts also recently issued research reports about the company. Brookline Capital Management downgraded MEI Pharma from a “strong-buy” rating to a “hold” rating in a report on Monday, July 22nd. Laidlaw downgraded MEI Pharma from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.00.

MEI Pharma Price Performance

Shares of NASDAQ:MEIP opened at $2.92 on Friday. The stock has a market cap of $19.46 million, a price-to-earnings ratio of -0.42 and a beta of 0.83. The stock’s 50 day moving average price is $2.92 and its 200 day moving average price is $3.02. MEI Pharma has a 12 month low of $2.61 and a 12 month high of $6.91.

MEI Pharma (NASDAQ:MEIP) last released its earnings results on Tuesday, November 12th. The company reported ($1.20) EPS for the quarter. On average, sell-side analysts expect that MEI Pharma will post -5.1 EPS for the current year.

Institutional Investors Weigh In On MEI Pharma

A hedge fund recently raised its stake in MEI Pharma stock. National Bank of Canada FI grew its position in shares of MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,000 shares of the company’s stock after buying an additional 10,000 shares during the quarter. National Bank of Canada FI owned approximately 0.50% of MEI Pharma worth $94,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 52.38% of the stock is currently owned by institutional investors.

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.