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

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

MEI Pharma Stock Performance

MEIP opened at $2.87 on Friday. The company has a market cap of $19.11 million, a PE ratio of -0.41 and a beta of 0.78. The stock has a 50-day moving average of $2.70 and a 200-day moving average of $2.92. MEI Pharma has a 52-week low of $2.30 and a 52-week high of $5.06.

MEI Pharma (NASDAQ:MEIP) last announced its earnings results on Tuesday, November 12th. The company reported ($1.20) earnings per share (EPS) for the quarter. On average, research analysts predict that MEI Pharma will post -5.1 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MEI Pharma stock. Corsair Capital Management L.P. purchased a new stake in shares of MEI Pharma, Inc. (NASDAQ:MEIP) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,370 shares of the company’s stock, valued at approximately $69,000. Corsair Capital Management L.P. owned 0.37% of MEI Pharma at the end of the most recent reporting period. 52.38% of the stock is owned by 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.