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 research note issued to investors on Sunday. The brokerage set a “buy” rating on the stock.

MEI Pharma Trading Up 1.1 %

MEIP stock opened at $2.85 on Friday. The stock’s 50 day simple moving average is $2.68 and its 200 day simple moving average is $2.92. MEI Pharma has a 12-month low of $2.30 and a 12-month high of $4.97. The firm has a market cap of $18.98 million, a P/E ratio of -0.41 and a beta of 0.78.

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

Hedge Funds Weigh In On MEI Pharma

A hedge fund recently bought a new stake in MEI Pharma stock. Corsair Capital Management L.P. acquired a new position in shares of MEI Pharma, Inc. (NASDAQ:MEIP) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 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 at the end of the most recent reporting period. Institutional investors and hedge funds 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.