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

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

MEI Pharma Stock Up 0.4 %

NASDAQ MEIP opened at $2.46 on Thursday. The firm has a market capitalization of $16.39 million, a PE ratio of -0.35 and a beta of 0.79. The stock’s 50 day moving average is $2.78 and its 200 day moving average is $2.94. MEI Pharma has a twelve month low of $2.30 and a twelve month high of $6.26.

MEI Pharma (NASDAQ:MEIP) last announced its earnings results on Tuesday, November 12th. The company reported ($1.20) EPS for the quarter. On average, research analysts anticipate that MEI Pharma will post -5.1 earnings per share for the current year.

Hedge Funds Weigh In On MEI Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Corsair Capital Management L.P. bought a new stake in shares of MEI Pharma in the 3rd quarter worth approximately $69,000. World Investment Advisors LLC bought a new stake in MEI Pharma in the third quarter worth $71,000. Finally, National Bank of Canada FI boosted its holdings 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 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.