MEI Pharma (NASDAQ:MEIP) Earns Buy Rating from Analysts at StockNews.com

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

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

MEI Pharma Price Performance

Shares of MEIP stock opened at $3.01 on Friday. The stock has a market capitalization of $20.05 million, a price-to-earnings ratio of -0.43 and a beta of 0.83. The company’s fifty day simple moving average is $2.92 and its two-hundred day simple moving average is $3.02. MEI Pharma has a 1 year low of $2.61 and a 1 year high of $7.87.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings data on Thursday, September 19th. The company reported ($1.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.48) by $0.35. Equities research analysts anticipate that MEI Pharma will post -5.1 EPS for the current year.

Institutional Investors Weigh In On MEI Pharma

A hedge fund recently bought a new stake in MEI Pharma stock. Corsair Capital Management L.P. acquired a new stake in shares of MEI Pharma, Inc. (NASDAQ:MEIP) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 24,370 shares of the company’s stock, valued at approximately $69,000. Corsair Capital Management L.P. owned approximately 0.37% of MEI Pharma as of its most recent filing with the SEC. 52.38% of the stock is owned by 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.