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

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

MEI Pharma Stock Up 1.8 %

Shares of NASDAQ MEIP opened at $2.85 on Monday. The firm has a 50-day moving average price of $2.68 and a 200 day moving average price of $2.92. MEI Pharma has a 52 week low of $2.30 and a 52 week high of $4.97. The stock has a market capitalization of $18.99 million, a price-to-earnings ratio of -0.41 and a beta of 0.78.

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

Institutional Investors Weigh In On MEI Pharma

An institutional investor recently bought a new position in MEI Pharma stock. Corsair Capital Management L.P. bought a new position in MEI Pharma, Inc. (NASDAQ:MEIP) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 24,370 shares of the company’s stock, valued at approximately $69,000. Corsair Capital Management L.P. owned about 0.37% of MEI Pharma as of its most recent filing with the Securities and Exchange Commission (SEC). 52.38% of the stock is currently owned by institutional investors and hedge funds.

MEI Pharma Company Profile

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.