MEI Pharma (NASDAQ:MEIP) Now Covered by Analysts at StockNews.com

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

Other equities analysts have also issued research reports about the company. Laidlaw lowered MEI Pharma from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Brookline Capital Management downgraded MEI Pharma from a “strong-buy” rating to a “hold” rating in a report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.00.

MEI Pharma Stock Up 2.8 %

Shares of NASDAQ MEIP opened at $3.17 on Wednesday. MEI Pharma has a 52 week low of $2.61 and a 52 week high of $7.87. The business’s 50 day moving average price is $2.94 and its 200 day moving average price is $3.03. The firm has a market cap of $21.11 million, a P/E ratio of 1.19 and a beta of 0.85.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings data on Thursday, September 19th. The company reported ($1.13) EPS for the quarter, beating the consensus estimate of ($1.48) by $0.35. As a group, research analysts expect that MEI Pharma will post -5.1 earnings per share for the current year.

Institutional Investors Weigh In On MEI Pharma

A hedge fund recently raised its stake in MEI Pharma stock. National Bank of Canada FI grew its position in MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 about 0.50% of MEI Pharma worth $94,000 as of its most recent SEC filing. 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.