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

StockNews.com started coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report report published on Sunday morning. The firm issued a buy rating on the stock.

Several other analysts also recently commented on the stock. Stifel Nicolaus reiterated a hold rating and issued a $7.00 price target on shares of MEI Pharma in a research report on Friday, April 12th. TheStreet downgraded shares of MEI Pharma from a c- rating to a d+ rating in a research report on Thursday, February 1st.

MEI Pharma Trading Down 1.1 %

Shares of MEI Pharma stock opened at $3.33 on Friday. The company has a fifty day simple moving average of $3.90 and a 200-day simple moving average of $5.31. MEI Pharma has a 12-month low of $3.20 and a 12-month high of $7.97. The stock has a market cap of $22.19 million, a price-to-earnings ratio of 1.12 and a beta of 0.77.

MEI Pharma (NASDAQ:MEIP) last issued its earnings results on Tuesday, February 13th. The company reported ($1.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.46) by ($0.20). MEI Pharma had a net margin of 39.06% and a return on equity of 39.72%. On average, analysts forecast that MEI Pharma will post 3.24 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. National Bank of Canada FI acquired a new position in shares of MEI Pharma, Inc. (NASDAQ:MEIP) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,000 shares of the company’s stock, valued at approximately $36,000. National Bank of Canada FI owned about 0.09% of MEI Pharma as of its most recent filing with the SEC. 52.38% of the stock is 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.