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

StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report sent to investors on Tuesday. The firm issued a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Laidlaw cut shares of MEI Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Brookline Capital Management downgraded shares of MEI Pharma from a “strong-buy” rating to a “hold” rating in a report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.00.

MEI Pharma Price Performance

Shares of MEI Pharma stock opened at $2.74 on Tuesday. MEI Pharma has a 1 year low of $2.61 and a 1 year high of $7.87. The company has a market capitalization of $18.22 million, a price-to-earnings ratio of 0.70 and a beta of 0.85. The business has a fifty day simple moving average of $2.94 and a two-hundred day simple moving average of $3.06.

MEI Pharma (NASDAQ:MEIP) last announced its earnings results on Thursday, September 19th. The company reported ($1.13) EPS for the quarter, topping the consensus estimate of ($1.48) by $0.35. As a group, equities analysts anticipate that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

Institutional Trading of MEI Pharma

An institutional investor recently raised its position in MEI Pharma stock. National Bank of Canada FI boosted its stake in MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,000 shares of the company’s stock after purchasing an additional 10,000 shares during the quarter. National Bank of Canada FI owned about 0.50% of MEI Pharma worth $94,000 at the end of the most recent reporting period. 52.38% of the stock is currently owned by hedge funds and other institutional investors.

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.