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

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

Several other equities analysts have also commented on MEIP. TheStreet lowered shares of MEI Pharma from a c- rating to a d+ rating in a report on Thursday, February 1st. Stifel Nicolaus reissued a hold rating and issued a $7.00 target price on shares of MEI Pharma in a report on Friday.

MEI Pharma Stock Down 9.9 %

Shares of MEI Pharma stock opened at $3.27 on Friday. MEI Pharma has a twelve month low of $3.21 and a twelve month high of $7.97. The company has a 50-day simple moving average of $4.09 and a two-hundred day simple moving average of $5.50. The stock has a market capitalization of $21.78 million, a price-to-earnings ratio of 1.10 and a beta of 0.77.

MEI Pharma (NASDAQ:MEIP) last issued its quarterly earnings data on Tuesday, February 13th. The company reported ($1.66) earnings per share for the quarter, missing the consensus estimate of ($1.46) by ($0.20). MEI Pharma had a return on equity of 39.72% and a net margin of 39.06%. On average, sell-side analysts anticipate that MEI Pharma will post 3.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MEI Pharma

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in MEI Pharma during the 1st quarter worth approximately $317,000. Acadian Asset Management LLC acquired a new position in shares of MEI Pharma in the 1st quarter worth approximately $275,000. MetLife Investment Management LLC lifted its position in shares of MEI Pharma by 969.4% in the 1st quarter. MetLife Investment Management LLC now owns 79,966 shares of the company’s stock worth $48,000 after purchasing an additional 72,488 shares during the period. BlackRock Inc. lifted its position in shares of MEI Pharma by 2.7% in the 1st quarter. BlackRock Inc. now owns 6,867,423 shares of the company’s stock worth $4,138,000 after purchasing an additional 177,552 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of MEI Pharma by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 6,245,990 shares of the company’s stock worth $3,763,000 after purchasing an additional 476,251 shares during the period. 52.38% of the stock is 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.