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

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

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

MEI Pharma Stock Performance

NASDAQ:MEIP opened at $2.72 on Tuesday. The stock has a 50-day simple moving average of $2.95 and a 200 day simple moving average of $3.06. MEI Pharma has a one year low of $2.61 and a one year high of $7.87. The company has a market capitalization of $18.12 million, a price-to-earnings ratio of 0.69 and a beta of 0.85.

MEI Pharma (NASDAQ:MEIP) last issued its earnings results on Thursday, September 19th. The company reported ($1.13) EPS for the quarter, topping the consensus estimate of ($1.48) by $0.35. On average, equities research analysts forecast that MEI Pharma will post -5.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in MEI Pharma stock. National Bank of Canada FI lifted its holdings in shares of MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 approximately 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.

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.