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

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

MEIP has been the subject of several other reports. Stifel Nicolaus reiterated a hold rating and set a $7.00 target price on shares of MEI Pharma in a research note on Friday, April 12th. TheStreet cut MEI Pharma from a c- rating to a d+ rating in a research note on Thursday, February 1st.

MEI Pharma Trading Up 0.3 %

Shares of MEIP stock opened at $3.06 on Monday. The firm has a fifty day simple moving average of $3.73 and a 200-day simple moving average of $5.17. The company has a market capitalization of $20.38 million, a PE ratio of 1.03 and a beta of 0.77. MEI Pharma has a twelve month low of $3.01 and a twelve month high of $7.97.

MEI Pharma (NASDAQ:MEIP) last posted its quarterly earnings data on Tuesday, February 13th. The company reported ($1.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.46) by ($0.20). MEI Pharma had a net margin of 39.06% and a return on equity of 39.72%. Equities research analysts predict that MEI Pharma will post 3.24 EPS for the current year.

Hedge Funds Weigh In On MEI Pharma

A hedge fund recently bought a new stake in MEI Pharma stock. National Bank of Canada FI bought a new position in MEI Pharma, Inc. (NASDAQ:MEIP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,000 shares of the company’s stock, valued at approximately $36,000. National Bank of Canada FI owned 0.09% of MEI Pharma at the end of the most recent reporting period. 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.