StockNews.com Begins Coverage on MEI Pharma (NASDAQ:MEIP)

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

MEI Pharma Stock Performance

Shares of MEIP opened at $2.78 on Friday. The stock has a 50 day moving average price of $2.89 and a two-hundred day moving average price of $3.01. The firm has a market capitalization of $18.51 million, a P/E ratio of -0.40 and a beta of 0.83. MEI Pharma has a 52 week low of $2.61 and a 52 week high of $6.91.

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

Hedge Funds Weigh In On MEI Pharma

A hedge fund recently raised its stake in MEI Pharma stock. National Bank of Canada FI boosted its position in MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 about 0.50% of MEI Pharma worth $94,000 as of its most recent SEC filing. Institutional investors and hedge funds own 52.38% of the company’s stock.

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.