MEI Pharma (NASDAQ:MEIP) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research note released on Thursday. The firm issued a buy rating on the stock.

MEI Pharma Stock Performance

MEIP stock opened at $2.55 on Thursday. The business has a 50-day simple moving average of $2.77 and a two-hundred day simple moving average of $2.93. MEI Pharma has a 52-week low of $2.30 and a 52-week high of $6.26. The company has a market capitalization of $16.99 million, a P/E ratio of -0.36 and a beta of 0.79.

MEI Pharma (NASDAQ:MEIP) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.20) EPS for the quarter. As a group, sell-side analysts forecast that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

Institutional Trading of MEI Pharma

Institutional investors have recently added to or reduced their stakes in the stock. World Investment Advisors LLC bought a new stake in MEI Pharma during the 3rd quarter worth approximately $71,000. Corsair Capital Management L.P. bought a new position in shares of MEI Pharma during the 3rd quarter valued at about $69,000. Finally, National Bank of Canada FI boosted its stake in MEI Pharma by 43.5% in the second quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock worth $94,000 after buying an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 52.38% of the company’s stock.

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.