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

Investment analysts at StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report issued on Sunday. The firm set a “buy” rating on the stock.

A number of other research firms have also weighed in on MEIP. Brookline Capital Management lowered MEI Pharma from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 22nd. Laidlaw lowered MEI Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.00.

MEI Pharma Stock Up 2.2 %

NASDAQ:MEIP opened at $2.81 on Friday. The business’s 50-day moving average price is $3.14 and its 200 day moving average price is $3.16. The firm has a market cap of $18.72 million, a P/E ratio of 0.72 and a beta of 0.85. MEI Pharma has a 52-week low of $2.73 and a 52-week high of $7.87.

MEI Pharma (NASDAQ:MEIP) last released its earnings results on Thursday, September 19th. The company reported ($1.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.48) by $0.35. Sell-side analysts expect that MEI Pharma will post -5.1 EPS for the current year.

Institutional Investors Weigh In On MEI Pharma

A hedge fund recently raised its stake in MEI Pharma stock. National Bank of Canada FI boosted its holdings in shares of MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,000 shares of the company’s stock after acquiring an additional 10,000 shares during the quarter. National Bank of Canada FI owned 0.50% of MEI Pharma worth $94,000 at the end of the most recent quarter. 52.38% of the stock is owned by hedge funds and other 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.