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

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

MEI Pharma Stock Performance

NASDAQ MEIP opened at $2.35 on Friday. The firm’s fifty day moving average is $2.62 and its two-hundred day moving average is $2.73. MEI Pharma has a one year low of $2.28 and a one year high of $4.15. The firm has a market cap of $15.66 million, a PE ratio of -0.41 and a beta of 0.76.

MEI Pharma (NASDAQ:MEIP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.48) earnings per share (EPS) for the quarter. Research analysts predict that MEI Pharma will post -5.1 earnings per share for the current year.

Institutional Investors Weigh In On MEI Pharma

Several hedge funds have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in MEI Pharma during the 4th quarter worth $26,000. Toronto Dominion Bank purchased a new stake in shares of MEI Pharma in the fourth quarter valued at about $62,000. Corsair Capital Management L.P. acquired a new position in shares of MEI Pharma during the third quarter worth about $69,000. World Investment Advisors LLC purchased a new position in MEI Pharma during the third quarter worth about $71,000. Finally, Northern Trust Corp lifted its position in MEI Pharma by 54.5% in the fourth quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock valued at $88,000 after purchasing an additional 12,561 shares during the period. 52.38% of the stock is owned by institutional investors and hedge funds.

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.