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

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

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

MEI Pharma Stock Performance

MEI Pharma stock opened at $2.90 on Friday. MEI Pharma has a fifty-two week low of $2.73 and a fifty-two week high of $7.87. The company has a market capitalization of $19.32 million, a price-to-earnings ratio of 0.74 and a beta of 0.86. The stock has a fifty day moving average of $3.21 and a two-hundred day moving average of $3.21.

MEI Pharma (NASDAQ:MEIP) last posted its quarterly earnings data on Thursday, September 19th. The company reported ($1.13) EPS for the quarter, topping analysts’ consensus estimates of ($1.48) by $0.35. On average, analysts forecast that MEI Pharma will post -5.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MEI Pharma stock. Cable Car Capital LLC bought a new stake in MEI Pharma, Inc. (NASDAQ:MEIP) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 611,440 shares of the company’s stock, valued at approximately $3,546,000. MEI Pharma comprises about 3.9% of Cable Car Capital LLC’s portfolio, making the stock its 10th biggest holding. Cable Car Capital LLC owned 9.18% of MEI Pharma as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds 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.