StockNews.com Begins Coverage on MEI Pharma (NASDAQ:MEIP)

StockNews.com started coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research note published on Friday. The brokerage issued a buy rating on the stock.

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

MEI Pharma Stock Down 1.5 %

Shares of NASDAQ:MEIP opened at $2.88 on Friday. The stock has a market cap of $19.16 million, a PE ratio of -0.41 and a beta of 0.83. The company’s fifty day moving average is $2.92 and its 200 day moving average is $3.02. MEI Pharma has a 52 week low of $2.61 and a 52 week high of $6.91.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.20) EPS for the quarter. Sell-side analysts anticipate that MEI Pharma will post -5.1 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in MEI Pharma stock. National Bank of Canada FI grew its holdings in shares of MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. 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 0.50% of MEI Pharma worth $94,000 as of its most recent SEC filing. 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.