MEI Pharma (NASDAQ:MEIP) Announces Quarterly Earnings Results

MEI Pharma (NASDAQ:MEIP) released its quarterly earnings data on Wednesday. The company reported ($0.48) earnings per share for the quarter, Zacks reports.

MEI Pharma Stock Down 4.4 %

Shares of MEIP stock traded down $0.12 during mid-day trading on Friday, reaching $2.60. 290 shares of the stock traded hands, compared to its average volume of 11,276. The stock’s fifty day simple moving average is $2.68 and its two-hundred day simple moving average is $2.90. MEI Pharma has a 1-year low of $2.30 and a 1-year high of $4.82. The company has a market cap of $17.32 million, a price-to-earnings ratio of -0.37 and a beta of 0.79.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on MEI Pharma in a research note on Tuesday. They issued a “buy” rating on the 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.