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

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

MEI Pharma Stock Performance

MEIP opened at $2.70 on Friday. The business’s 50-day simple moving average is $2.73 and its 200 day simple moving average is $2.93. The firm has a market capitalization of $17.99 million, a PE ratio of -0.39 and a beta of 0.78. MEI Pharma has a 52-week low of $2.30 and a 52-week high of $6.05.

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, research analysts forecast that MEI Pharma will post -5.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Corsair Capital Management L.P. acquired a new stake in MEI Pharma in the 3rd quarter valued at about $69,000. World Investment Advisors LLC acquired a new position in MEI Pharma during the third quarter worth approximately $71,000. Finally, National Bank of Canada FI raised its stake in MEI Pharma by 43.5% in the second quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock valued at $94,000 after buying an additional 10,000 shares during the period. 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.