MEI Pharma (NASDAQ:MEIP) Earns Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research note released on Saturday morning. The brokerage issued a buy rating on the stock.

MEI Pharma Price Performance

MEI Pharma stock opened at $2.87 on Friday. The business has a fifty day moving average price of $2.70 and a 200-day moving average price of $2.92. MEI Pharma has a 1-year low of $2.30 and a 1-year high of $5.06. The stock has a market capitalization of $19.12 million, a price-to-earnings ratio of -0.41 and a beta of 0.78.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MEI Pharma stock. Corsair Capital Management L.P. bought a new stake in shares of MEI Pharma, Inc. (NASDAQ:MEIP) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 24,370 shares of the company’s stock, valued at approximately $69,000. Corsair Capital Management L.P. owned 0.37% of MEI Pharma at the end of the most recent reporting period. 52.38% of the stock is currently owned by institutional investors and hedge funds.

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.