MEI Pharma (NASDAQ:MEIP) Receives New Coverage from Analysts at StockNews.com

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

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

MEI Pharma Trading Up 1.5 %

MEIP stock opened at $2.71 on Monday. The firm has a 50 day moving average of $3.03 and a 200-day moving average of $3.10. The firm has a market capitalization of $18.06 million, a P/E ratio of 0.69 and a beta of 0.85. MEI Pharma has a 12 month low of $2.61 and a 12 month high of $7.87.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings results on Thursday, September 19th. The company reported ($1.13) EPS for the quarter, beating analysts’ consensus estimates of ($1.48) by $0.35. Sell-side analysts predict 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 lifted its position in shares of MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,000 shares of the company’s stock after buying an additional 10,000 shares during the period. National Bank of Canada FI owned about 0.50% of MEI Pharma worth $94,000 as of its most recent SEC filing. 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.