MEI Pharma (NASDAQ:MEIP) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report sent to investors on Saturday morning. The firm issued a buy rating on the stock.

Other equities analysts have also issued reports about the stock. Brookline Capital Management lowered shares of MEI Pharma from a strong-buy rating to a hold rating in a research report on Monday, July 22nd. Laidlaw lowered MEI Pharma from a buy rating to a hold rating in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $7.00.

MEI Pharma Stock Performance

Shares of MEIP opened at $2.80 on Friday. The company has a 50-day simple moving average of $3.20 and a 200-day simple moving average of $3.19. MEI Pharma has a 52 week low of $2.73 and a 52 week high of $7.87. The firm has a market capitalization of $18.66 million, a P/E ratio of 0.73 and a beta of 0.86.

MEI Pharma (NASDAQ:MEIP) last issued its earnings results on Thursday, September 19th. The company reported ($1.13) earnings per share for the quarter, beating the consensus estimate of ($1.48) by $0.35. As a group, equities analysts forecast that MEI Pharma will post -5.1 earnings per share for the current year.

Institutional Trading of MEI Pharma

A hedge fund recently raised its stake in MEI Pharma stock. National Bank of Canada FI raised its position in MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 33,000 shares of the company’s stock after buying an additional 10,000 shares during the period. National Bank of Canada FI owned about 0.50% of MEI Pharma worth $94,000 as of its most recent filing with the SEC. 52.38% of the stock is currently owned by institutional investors and hedge funds.

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.