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

Analysts at StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report issued on Tuesday. The brokerage set a “buy” rating on the stock.

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

MEI Pharma Stock Down 1.1 %

NASDAQ MEIP opened at $2.74 on Tuesday. MEI Pharma has a 52 week low of $2.61 and a 52 week high of $7.87. The firm has a 50 day moving average of $2.98 and a two-hundred day moving average of $3.07. The stock has a market capitalization of $18.26 million, a PE ratio of 0.70 and a beta of 0.85.

MEI Pharma (NASDAQ:MEIP) last posted its earnings results on Thursday, September 19th. The company reported ($1.13) EPS for the quarter, beating the consensus estimate of ($1.48) by $0.35. On average, equities research analysts expect that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

Institutional Trading of MEI Pharma

An institutional investor recently raised its position in MEI Pharma stock. National Bank of Canada FI boosted its position in shares of MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 0.50% of MEI Pharma worth $94,000 as of its most recent SEC filing. 52.38% of the stock is currently owned by hedge funds and other institutional investors.

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.