MEI Pharma (NASDAQ:MEIP) Research Coverage Started at StockNews.com

Equities researchers at StockNews.com started coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report released on Tuesday. The firm set a “buy” rating on the stock.

Several other equities research analysts have also recently commented on the company. Brookline Capital Management cut MEI Pharma from a “strong-buy” rating to a “hold” rating in a report on Monday, July 22nd. Laidlaw downgraded MEI Pharma from a “buy” rating to a “hold” rating in a research note 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $7.00.

MEI Pharma Stock Performance

MEI Pharma stock opened at $2.74 on Tuesday. The company’s fifty day moving average price is $2.98 and its 200 day moving average price is $3.07. MEI Pharma has a 1 year low of $2.61 and a 1 year high of $7.87. The stock has a market capitalization of $18.26 million, a P/E ratio of 0.70 and a beta of 0.85.

MEI Pharma (NASDAQ:MEIP) last posted its quarterly earnings results on Thursday, September 19th. The company reported ($1.13) earnings per share for the quarter, topping the consensus estimate of ($1.48) by $0.35. Sell-side analysts predict that MEI Pharma will post -5.1 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in MEI Pharma stock. National Bank of Canada FI lifted its stake in shares of MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,000 shares of the company’s stock after acquiring an additional 10,000 shares during the quarter. National Bank of Canada FI owned 0.50% of MEI Pharma worth $94,000 as of its most recent filing with the Securities and Exchange Commission. 52.38% of the stock is currently owned by institutional investors and hedge funds.

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.