MEI Pharma (NASDAQ:MEIP) Earns Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report issued on Tuesday. The firm set a “buy” rating on the stock.

MEI Pharma Trading Down 4.4 %

Shares of NASDAQ:MEIP opened at $2.58 on Tuesday. The stock has a 50 day moving average of $2.85 and a 200 day moving average of $2.97. The company has a market cap of $17.19 million, a PE ratio of -0.37 and a beta of 0.79. MEI Pharma has a 12-month low of $2.54 and a 12-month high of $6.52.

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

Institutional Trading of MEI Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. National Bank of Canada FI increased its stake in MEI Pharma by 43.5% in the second quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock worth $94,000 after purchasing an additional 10,000 shares during the period. World Investment Advisors LLC purchased a new position in shares of MEI Pharma during the third quarter valued at $71,000. Finally, Corsair Capital Management L.P. purchased a new position in shares of MEI Pharma during the third quarter valued at $69,000. Hedge funds and other 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.