StockNews.com Begins Coverage on MEI Pharma (NASDAQ:MEIP)

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

MEI Pharma Stock Up 0.4 %

Shares of NASDAQ MEIP opened at $2.70 on Friday. MEI Pharma has a twelve month low of $2.30 and a twelve month high of $6.05. The stock has a market cap of $17.99 million, a price-to-earnings ratio of -0.39 and a beta of 0.78. The company’s fifty day moving average is $2.73 and its 200-day moving average is $2.93.

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

Institutional Trading of MEI Pharma

A number of large investors have recently bought and sold shares of MEIP. World Investment Advisors LLC acquired a new position in shares of MEI Pharma in the third quarter valued at approximately $71,000. Corsair Capital Management L.P. bought a new stake in MEI Pharma in the 3rd quarter valued at $69,000. Finally, National Bank of Canada FI boosted its stake in MEI Pharma by 43.5% in the 2nd quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock worth $94,000 after purchasing an additional 10,000 shares during the period. 52.38% of the stock is owned by 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.