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

StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report published on Saturday. The brokerage issued a buy rating on the stock.

MEI Pharma Stock Performance

Shares of MEIP opened at $2.84 on Friday. The firm has a market capitalization of $18.92 million, a P/E ratio of -0.41 and a beta of 0.83. MEI Pharma has a 52 week low of $2.61 and a 52 week high of $6.91. The stock has a 50 day moving average price of $2.89 and a two-hundred day moving average price of $3.01.

MEI Pharma (NASDAQ:MEIP) last announced its quarterly 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.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MEIP. Corsair Capital Management L.P. bought a new stake in MEI Pharma in the 3rd quarter worth about $69,000. World Investment Advisors LLC bought a new position in shares of MEI Pharma in the third quarter valued at approximately $71,000. Finally, National Bank of Canada FI increased its position in shares of MEI Pharma by 43.5% during the second quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock valued at $94,000 after acquiring an additional 10,000 shares during the last quarter. 52.38% of the stock is owned by institutional investors.

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.