MEI Pharma (NASDAQ:MEIP) Research Coverage Started at StockNews.com

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

MEIP has been the topic of a number of other reports. Laidlaw cut shares of MEI Pharma from a buy rating to a hold rating in a report on Tuesday, July 23rd. Brookline Capital Management cut shares of MEI Pharma from a strong-buy rating to a hold rating in a report on Monday, July 22nd. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, MEI Pharma has a consensus rating of Hold and a consensus price target of $7.00.

MEI Pharma Price Performance

Shares of NASDAQ:MEIP traded up $0.08 during trading on Friday, hitting $3.48. 20,093 shares of the company were exchanged, compared to its average volume of 55,151. The stock has a market capitalization of $23.19 million, a P/E ratio of 0.88 and a beta of 0.86. MEI Pharma has a 12-month low of $2.73 and a 12-month high of $7.87. The firm’s 50 day moving average price is $3.04 and its 200-day moving average price is $3.50.

MEI Pharma (NASDAQ:MEIP) last announced its earnings results on Thursday, May 9th. The company reported ($1.37) EPS for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.01. As a group, equities research analysts anticipate that MEI Pharma will post 3.22 EPS for the current year.

Hedge Funds Weigh In On MEI Pharma

An institutional investor recently raised its position in MEI Pharma stock. National Bank of Canada FI raised its position in MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 33,000 shares of the company’s stock after buying an additional 10,000 shares during the quarter. National Bank of Canada FI owned about 0.50% of MEI Pharma worth $94,000 as of its most recent filing with the SEC. Institutional investors own 52.38% of the company’s stock.

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.