MEI Pharma (NASDAQ:MEIP) Earns Buy Rating from Analysts at StockNews.com

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

MEI Pharma Price Performance

Shares of NASDAQ MEIP opened at $2.32 on Friday. The firm has a market cap of $15.46 million, a price-to-earnings ratio of -0.40 and a beta of 0.76. The stock’s fifty day moving average price is $2.66 and its two-hundred day moving average price is $2.77. MEI Pharma has a one year low of $2.28 and a one year high of $4.15.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.48) EPS for the quarter. On average, equities analysts anticipate that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MEI Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in MEI Pharma in the 4th quarter valued at $26,000. Corsair Capital Management L.P. bought a new position in shares of MEI Pharma in the third quarter worth $69,000. Toronto Dominion Bank acquired a new position in MEI Pharma in the fourth quarter valued at about $62,000. World Investment Advisors LLC acquired a new position in MEI Pharma in the third quarter valued at about $71,000. Finally, Northern Trust Corp lifted its position in MEI Pharma by 54.5% during the fourth quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock worth $88,000 after purchasing an additional 12,561 shares during the period. 52.38% of the stock is currently owned by institutional investors and hedge funds.

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.