MEI Pharma (NASDAQ:MEIP) Coverage Initiated by Analysts at StockNews.com

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

Several other equities analysts have also issued reports on the company. Stifel Nicolaus reissued a hold rating and issued a $7.00 price target on shares of MEI Pharma in a research note on Friday, April 12th. Laidlaw lowered MEI Pharma from a buy rating to a hold rating in a research note on Tuesday, July 23rd. Finally, Brookline Capital Management lowered MEI Pharma from a strong-buy rating to a hold rating in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $7.00.

MEI Pharma Trading Down 2.6 %

MEIP stock traded down $0.09 during trading on Friday, hitting $3.38. The company had a trading volume of 21,848 shares, compared to its average volume of 284,121. The business has a 50-day moving average of $2.99 and a 200-day moving average of $3.56. MEI Pharma has a one year low of $2.73 and a one year high of $7.87. The stock has a market cap of $22.51 million, a PE ratio of 0.86 and a beta of 0.86.

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

Hedge Funds Weigh In On MEI Pharma

A hedge fund recently bought a new stake in MEI Pharma stock. Cable Car Capital LLC purchased a new stake in MEI Pharma, Inc. (NASDAQ:MEIP) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 611,440 shares of the company’s stock, valued at approximately $3,546,000. MEI Pharma comprises about 3.9% of Cable Car Capital LLC’s holdings, making the stock its 10th biggest holding. Cable Car Capital LLC owned approximately 9.18% of MEI Pharma as of its most recent SEC filing. 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.