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

Research analysts at StockNews.com began coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research note issued to investors on Monday. The brokerage set a “buy” rating on the stock.

Several other analysts also recently commented on MEIP. Brookline Capital Management downgraded shares of MEI Pharma from a “strong-buy” rating to a “hold” rating in a report on Monday, July 22nd. Laidlaw downgraded MEI Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, MEI Pharma presently has an average rating of “Hold” and an average price target of $7.00.

MEI Pharma Price Performance

Shares of MEIP opened at $2.70 on Monday. The firm has a market capitalization of $17.99 million, a PE ratio of 0.69 and a beta of 0.85. The company’s fifty day moving average price is $3.06 and its 200-day moving average price is $3.13. MEI Pharma has a 1-year low of $2.61 and a 1-year high of $7.87.

MEI Pharma (NASDAQ:MEIP) last announced its quarterly earnings data on Thursday, September 19th. The company reported ($1.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.48) by $0.35. As a group, research analysts anticipate that MEI Pharma will post -5.1 EPS 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 MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 quarter. Institutional investors own 52.38% of the company’s stock.

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.