MEI Pharma (NASDAQ:MEIP) Earns Buy Rating from Analysts at StockNews.com

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

MEI Pharma Price Performance

MEIP opened at $2.44 on Wednesday. MEI Pharma has a fifty-two week low of $2.30 and a fifty-two week high of $6.26. The firm has a market capitalization of $16.26 million, a PE ratio of -0.35 and a beta of 0.79. The company’s 50-day moving average is $2.79 and its 200 day moving average is $2.94.

MEI Pharma (NASDAQ:MEIP) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.20) EPS for the quarter. As a group, analysts expect that MEI Pharma will post -5.1 EPS for the current year.

Institutional Trading of MEI Pharma

Several institutional investors have recently made changes to their positions in the company. World Investment Advisors LLC purchased a new position in MEI Pharma during the third quarter worth about $71,000. Corsair Capital Management L.P. bought a new position in shares of MEI Pharma during the 3rd quarter worth approximately $69,000. Finally, National Bank of Canada FI boosted its stake in shares of MEI Pharma by 43.5% in the 2nd quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock worth $94,000 after buying an additional 10,000 shares during the last quarter. Institutional investors own 52.38% of the company’s stock.

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.