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 issued to investors on Sunday. The firm issued a buy rating on the stock.

MEI Pharma Price Performance

MEI Pharma stock opened at $2.87 on Friday. The business has a 50 day simple moving average of $2.68 and a 200 day simple moving average of $2.93. MEI Pharma has a one year low of $2.30 and a one year high of $4.97. The company has a market capitalization of $19.11 million, a PE ratio of -0.41 and a beta of 0.78.

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

Hedge Funds Weigh In On MEI Pharma

A hedge fund recently bought a new stake in MEI Pharma stock. World Investment Advisors LLC acquired a new stake in MEI Pharma, Inc. (NASDAQ:MEIP) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 25,000 shares of the company’s stock, valued at approximately $71,000. World Investment Advisors LLC owned about 0.38% of MEI Pharma as of its most recent filing with the SEC. Hedge funds and other 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.