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

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

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

MEI Pharma Stock Performance

MEIP opened at $3.14 on Friday. MEI Pharma has a 52-week low of $2.73 and a 52-week high of $7.87. The firm has a market cap of $20.92 million, a P/E ratio of 0.80 and a beta of 0.86. The business’s fifty day moving average is $3.20 and its 200-day moving average is $3.25.

Institutional Investors Weigh In On MEI Pharma

An institutional investor recently bought a new position in MEI Pharma stock. Cable Car Capital LLC bought a new stake in MEI Pharma, Inc. (NASDAQ:MEIP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 611,440 shares of the company’s stock, valued at approximately $3,546,000. MEI Pharma makes up 3.9% of Cable Car Capital LLC’s holdings, making the stock its 10th largest position. Cable Car Capital LLC owned 9.18% of MEI Pharma at the end of the most recent quarter. 52.38% of the stock is currently 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.