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

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

MEI Pharma Stock Performance

Shares of NASDAQ MEIP opened at $2.58 on Tuesday. The company has a market cap of $17.19 million, a PE ratio of -0.37 and a beta of 0.79. The business has a 50-day simple moving average of $2.85 and a two-hundred day simple moving average of $2.97. MEI Pharma has a fifty-two week low of $2.54 and a fifty-two week high of $6.52.

MEI Pharma (NASDAQ:MEIP) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.20) earnings per share (EPS) for the quarter. On average, sell-side analysts predict that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Corsair Capital Management L.P. purchased a new stake in shares of MEI Pharma in the third quarter valued at approximately $69,000. World Investment Advisors LLC acquired a new stake in shares of MEI Pharma in the third quarter worth approximately $71,000. Finally, National Bank of Canada FI boosted its stake in shares of MEI Pharma by 43.5% in the second quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock worth $94,000 after acquiring an additional 10,000 shares during the last quarter. 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.