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

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

A number of other equities analysts have also recently weighed in on MEIP. Brookline Capital Management cut shares of MEI Pharma from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 22nd. Laidlaw lowered MEI Pharma from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, MEI Pharma has a consensus rating of “Hold” and an average target price of $7.00.

MEI Pharma Stock Performance

Shares of MEIP stock opened at $3.04 on Thursday. MEI Pharma has a twelve month low of $2.61 and a twelve month high of $7.87. The stock has a market cap of $20.25 million, a P/E ratio of 1.14 and a beta of 0.83. The stock has a 50 day moving average of $2.93 and a 200 day moving average of $3.03.

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

Hedge Funds Weigh In On MEI Pharma

A hedge fund recently raised its stake in MEI Pharma stock. National Bank of Canada FI lifted its holdings in MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,000 shares of the company’s stock after purchasing an additional 10,000 shares during the period. National Bank of Canada FI owned approximately 0.50% of MEI Pharma worth $94,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 52.38% of the company’s stock.

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.