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

Equities researchers at StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report released on Wednesday. The firm set a “buy” rating on the stock.

Separately, Stifel Nicolaus reiterated a “hold” rating and issued a $7.00 target price on shares of MEI Pharma in a research note on Friday, April 12th.

MEI Pharma Trading Up 1.1 %

MEI Pharma stock opened at $2.82 on Wednesday. The firm’s fifty day moving average price is $2.95 and its two-hundred day moving average price is $3.87. The firm has a market capitalization of $18.78 million, a price-to-earnings ratio of 0.72 and a beta of 0.86. MEI Pharma has a 1-year low of $2.73 and a 1-year high of $7.87.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings results on Thursday, May 9th. The company reported ($1.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.01. On average, research analysts forecast that MEI Pharma will post 3.22 EPS for the current year.

Institutional Trading of MEI Pharma

A hedge fund recently bought a new stake in MEI Pharma stock. National Bank of Canada FI bought a new stake in shares of MEI Pharma, Inc. (NASDAQ:MEIP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 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 at the end of the most recent reporting period. 52.38% of the stock is currently owned by hedge funds and other 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.