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

Stock analysts at StockNews.com started coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report issued on Friday. The brokerage set a “buy” rating on the stock.

MEIP has been the topic of several other reports. Brookline Capital Management cut MEI Pharma from a “strong-buy” rating to a “hold” rating in a report on Monday, July 22nd. Laidlaw cut 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.00.

MEI Pharma Trading Down 3.0 %

Shares of MEIP opened at $2.92 on Friday. The firm has a market cap of $19.45 million, a P/E ratio of -0.42 and a beta of 0.83. The stock’s 50 day moving average is $2.92 and its two-hundred day moving average is $3.02. MEI Pharma has a 12 month low of $2.61 and a 12 month high of $6.91.

MEI Pharma (NASDAQ:MEIP) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.20) EPS for the quarter. Equities research analysts forecast that MEI Pharma will post -5.1 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MEI Pharma stock. Corsair Capital Management L.P. bought a new position in shares of MEI Pharma, Inc. (NASDAQ:MEIP) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 24,370 shares of the company’s stock, valued at approximately $69,000. Corsair Capital Management L.P. owned approximately 0.37% of MEI Pharma as of its most recent SEC filing. 52.38% of the stock is 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.