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

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

MEI Pharma Stock Performance

MEIP stock opened at $2.70 on Monday. MEI Pharma has a 52-week low of $2.61 and a 52-week high of $6.91. The company has a market capitalization of $17.99 million, a P/E ratio of -0.39 and a beta of 0.79. The company has a fifty day moving average price of $2.85 and a 200-day moving average price of $2.99.

MEI Pharma (NASDAQ:MEIP) last announced its earnings results on Tuesday, November 12th. The company reported ($1.20) EPS for the quarter. As a group, sell-side analysts forecast that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MEIP. Corsair Capital Management L.P. acquired a new stake in shares of MEI Pharma during the third quarter worth $69,000. World Investment Advisors LLC acquired a new stake in MEI Pharma during the 3rd quarter worth about $71,000. Finally, National Bank of Canada FI raised its position in shares of MEI Pharma by 43.5% in the 2nd quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock worth $94,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors 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.