StockNews.com Initiates Coverage on MEI Pharma (NASDAQ:MEIP)

StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research note issued to investors on Tuesday. The brokerage set a “buy” rating on the stock.

A number of other analysts have also recently commented on MEIP. Laidlaw cut MEI Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Brookline Capital Management cut MEI Pharma from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.00.

MEI Pharma Price Performance

Shares of NASDAQ MEIP opened at $3.18 on Tuesday. MEI Pharma has a 1 year low of $2.73 and a 1 year high of $7.87. The firm has a 50-day moving average of $3.11 and a 200 day moving average of $3.40. The stock has a market cap of $21.19 million, a P/E ratio of 0.81 and a beta of 0.86.

Institutional Trading of MEI Pharma

A hedge fund recently bought a new stake in MEI Pharma stock. National Bank of Canada FI purchased a new stake in shares of MEI Pharma, Inc. (NASDAQ:MEIP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,000 shares of the company’s stock, valued at approximately $36,000. National Bank of Canada FI owned 0.09% of MEI Pharma as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other 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.