MEI Pharma (NASDAQ:MEIP) Now Covered by StockNews.com

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

Several other analysts have also recently issued reports on the stock. Laidlaw cut shares of MEI Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Brookline Capital Management downgraded shares of MEI Pharma from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 22nd. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, MEI Pharma presently has a consensus rating of “Hold” and a consensus target price of $7.00.

MEI Pharma Price Performance

NASDAQ:MEIP opened at $2.70 on Monday. The company has a market cap of $17.99 million, a price-to-earnings ratio of 0.69 and a beta of 0.85. MEI Pharma has a 1 year low of $2.61 and a 1 year high of $7.87. The stock’s 50 day simple moving average is $3.06 and its two-hundred day simple moving average is $3.13.

MEI Pharma (NASDAQ:MEIP) last announced its quarterly earnings results on Thursday, September 19th. The company reported ($1.13) earnings per share for the quarter, topping the consensus estimate of ($1.48) by $0.35. As a group, analysts anticipate that MEI Pharma will post -5.1 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in MEI Pharma stock. National Bank of Canada FI raised its holdings in shares of MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,000 shares of the company’s stock after purchasing an additional 10,000 shares during the period. 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 currently 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.