StockNews.com Begins Coverage on MEI Pharma (NASDAQ:MEIP)

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

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

MEI Pharma Stock Performance

MEI Pharma stock opened at $2.71 on Friday. The company has a 50-day simple moving average of $3.13 and a 200-day simple moving average of $3.15. The firm has a market capitalization of $18.06 million, a P/E ratio of 0.69 and a beta of 0.85. MEI Pharma has a one year low of $2.71 and a one year high of $7.87.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings results on Thursday, September 19th. The company reported ($1.13) EPS for the quarter, topping the consensus estimate of ($1.48) by $0.35. As a group, sell-side analysts forecast that MEI Pharma will post -5.1 earnings per share for the current year.

Institutional Investors Weigh In On MEI Pharma

An institutional investor recently raised its position in MEI Pharma stock. National Bank of Canada FI grew its holdings in MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,000 shares of the company’s stock after purchasing an additional 10,000 shares during the period. National Bank of Canada FI owned about 0.50% of MEI Pharma worth $94,000 as of its most recent SEC filing. 52.38% of the stock is owned by institutional investors and hedge funds.

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.