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

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

MEI Pharma Price Performance

Shares of MEIP opened at $2.68 on Thursday. The firm has a 50 day simple moving average of $2.77 and a two-hundred day simple moving average of $2.93. MEI Pharma has a one year low of $2.30 and a one year high of $6.26. The company has a market cap of $17.86 million, a P/E ratio of -0.38 and a beta of 0.78.

MEI Pharma (NASDAQ:MEIP) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.20) EPS for the quarter. On average, analysts expect that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MEI Pharma

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. National Bank of Canada FI lifted its stake in MEI Pharma by 43.5% in the 2nd quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock valued at $94,000 after purchasing an additional 10,000 shares during the last quarter. Corsair Capital Management L.P. acquired a new position in shares of MEI Pharma during the third quarter worth $69,000. Finally, World Investment Advisors LLC bought a new position in shares of MEI Pharma in the 3rd quarter valued at $71,000. 52.38% of the stock is owned by institutional investors.

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.