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

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

A number of other research firms also recently issued reports on MEIP. Brookline Capital Management downgraded shares of MEI Pharma from a strong-buy rating to a hold rating in a research report on Monday, July 22nd. Laidlaw downgraded MEI Pharma from a buy rating to a hold rating in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and an average target price of $7.00.

MEI Pharma Stock Performance

Shares of MEIP stock opened at $2.90 on Friday. The company has a market capitalization of $19.32 million, a P/E ratio of 0.74 and a beta of 0.86. The business’s 50 day moving average is $3.21 and its two-hundred day moving average is $3.21. MEI Pharma has a twelve month low of $2.73 and a twelve month high of $7.87.

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

Institutional Investors Weigh In On MEI Pharma

An institutional investor recently raised its position in MEI Pharma stock. National Bank of Canada FI raised its holdings in shares of MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period. Institutional investors own 52.38% of the company’s stock.

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.