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

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

MEI Pharma Stock Performance

Shares of NASDAQ:MEIP opened at $2.33 on Friday. The company has a fifty day moving average of $2.67 and a 200-day moving average of $2.78. The company has a market capitalization of $15.53 million, a PE ratio of -0.41 and a beta of 0.76. MEI Pharma has a 52-week low of $2.30 and a 52-week high of $4.15.

MEI Pharma (NASDAQ:MEIP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.48) earnings per share (EPS) for the quarter. On average, equities analysts forecast that MEI Pharma will post -5.1 EPS for the current fiscal year.

Institutional Trading of MEI Pharma

Several institutional investors have recently modified their holdings of the business. Toronto Dominion Bank bought a new stake in shares of MEI Pharma in the fourth quarter worth $62,000. Northern Trust Corp boosted its position in MEI Pharma by 54.5% during the fourth quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock valued at $88,000 after acquiring an additional 12,561 shares during the last quarter. Virtu Financial LLC bought a new stake in MEI Pharma during the fourth quarter valued at $26,000. World Investment Advisors LLC bought a new stake in MEI Pharma during the third quarter valued at $71,000. Finally, Corsair Capital Management L.P. bought a new stake in MEI Pharma during the third quarter valued at $69,000. Institutional investors 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.