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

Stock analysts at StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report issued to clients and investors on Friday. The firm set a “buy” rating on the stock.

Several other analysts have also recently weighed in on the stock. Brookline Capital Management cut shares of MEI Pharma from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 22nd. Laidlaw lowered MEI Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, MEI Pharma has an average rating of “Hold” and an average price target of $7.00.

MEI Pharma Price Performance

Shares of NASDAQ MEIP opened at $3.14 on Friday. MEI Pharma has a 1 year low of $2.73 and a 1 year high of $7.87. The firm has a market cap of $20.92 million, a PE ratio of 0.80 and a beta of 0.86. The company has a 50 day simple moving average of $3.20 and a 200 day simple moving average of $3.25.

Hedge Funds Weigh In On MEI Pharma

An institutional investor recently bought a new position in MEI Pharma stock. Cable Car Capital LLC acquired a new position in MEI Pharma, Inc. (NASDAQ:MEIP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 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 portfolio, making the stock its 10th largest position. Cable Car Capital LLC owned approximately 9.18% of MEI Pharma as of its most recent filing with the Securities and Exchange Commission. 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.