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

Equities research analysts at StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report issued to clients and investors on Sunday. The brokerage set a “buy” rating on the stock.

Several other research firms have also issued reports on MEIP. Laidlaw lowered shares of MEI Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. 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. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.00.

MEI Pharma Price Performance

NASDAQ MEIP opened at $2.77 on Friday. MEI Pharma has a 12 month low of $2.73 and a 12 month high of $7.87. The firm has a market capitalization of $18.46 million, a PE ratio of 0.71 and a beta of 0.85. The company’s 50 day simple moving average is $3.13 and its 200 day simple moving average is $3.15.

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. Sell-side analysts anticipate that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MEI Pharma

An institutional investor recently raised its position in MEI Pharma stock. National Bank of Canada FI increased its position in MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 33,000 shares of the company’s stock after purchasing 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. 52.38% of the stock is owned by institutional investors.

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.