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

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

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

MEI Pharma Price Performance

NASDAQ:MEIP opened at $3.18 on Tuesday. MEI Pharma has a one year low of $2.73 and a one year high of $7.87. The company has a fifty day moving average price of $3.13 and a 200 day moving average price of $3.38. The stock has a market cap of $21.19 million, a P/E ratio of 0.81 and a beta of 0.86.

Institutional Investors Weigh In On MEI Pharma

A hedge fund recently raised its stake in MEI Pharma stock. National Bank of Canada FI boosted its holdings in MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,000 shares of the company’s stock after acquiring an additional 10,000 shares during the quarter. National Bank of Canada FI owned 0.50% of MEI Pharma worth $94,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.