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

Equities researchers at StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research note issued to investors on Thursday. The firm set a “buy” rating on the stock.

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

MEI Pharma Stock Performance

Shares of NASDAQ MEIP opened at $3.04 on Thursday. The stock’s 50-day simple moving average is $2.93 and its 200-day simple moving average is $3.03. The firm has a market capitalization of $20.25 million, a PE ratio of 1.14 and a beta of 0.83. MEI Pharma has a fifty-two week low of $2.61 and a fifty-two week high of $7.87.

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

Hedge Funds Weigh In On MEI Pharma

A hedge fund recently raised its stake in MEI Pharma stock. National Bank of Canada FI grew its position in MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,000 shares of the company’s stock after acquiring 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. 52.38% of the stock is owned by hedge funds and other 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.