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

Equities researchers at StockNews.com started coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report released on Wednesday. The brokerage set a “buy” rating on the stock.

MEI Pharma Stock Performance

MEIP stock opened at $2.36 on Wednesday. The company has a market capitalization of $15.72 million, a PE ratio of -0.34 and a beta of 0.79. MEI Pharma has a one year low of $2.30 and a one year high of $6.39. The company’s fifty day moving average price is $2.82 and its 200-day moving average price is $2.96.

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

Hedge Funds Weigh In On MEI Pharma

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

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.