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

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

MEI Pharma Trading Up 1.1 %

Shares of MEIP stock opened at $2.85 on Friday. MEI Pharma has a 12 month low of $2.30 and a 12 month high of $4.97. The company has a market capitalization of $18.98 million, a P/E ratio of -0.41 and a beta of 0.78. The stock has a 50 day moving average of $2.68 and a two-hundred day moving average of $2.92.

MEI Pharma (NASDAQ:MEIP) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.20) earnings per share for the quarter. Sell-side analysts predict that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MEI Pharma

A hedge fund recently bought a new stake in MEI Pharma stock. World Investment Advisors LLC purchased a new stake in MEI Pharma, Inc. (NASDAQ:MEIP) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 25,000 shares of the company’s stock, valued at approximately $71,000. World Investment Advisors LLC owned 0.38% of MEI Pharma at the end of the most recent reporting period. 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.