StockNews.com Initiates Coverage on MEI Pharma (NASDAQ:MEIP)

StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research note issued to investors on Saturday morning. The firm issued a buy rating on the stock.

MEI Pharma Stock Down 0.7 %

Shares of MEI Pharma stock opened at $2.76 on Friday. The business has a 50-day moving average price of $2.89 and a 200 day moving average price of $3.01. MEI Pharma has a fifty-two week low of $2.61 and a fifty-two week high of $6.91. The firm has a market cap of $18.38 million, a P/E ratio of -0.39 and a beta of 0.83.

MEI Pharma (NASDAQ:MEIP) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.20) earnings per share for the quarter. As a group, equities research analysts anticipate that MEI Pharma will post -5.1 earnings per share for the current year.

Hedge Funds Weigh In On MEI Pharma

Large investors have recently bought and sold shares of the business. Corsair Capital Management L.P. acquired a new stake in shares of MEI Pharma during the 3rd quarter worth approximately $69,000. World Investment Advisors LLC acquired a new position in MEI Pharma during the 3rd quarter valued at approximately $71,000. Finally, National Bank of Canada FI grew its stake in MEI Pharma by 43.5% during the 2nd quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock worth $94,000 after buying an additional 10,000 shares during the last quarter. Institutional investors own 52.38% of the company’s stock.

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.