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

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

MEI Pharma Price Performance

MEIP opened at $2.68 on Thursday. MEI Pharma has a fifty-two week low of $2.30 and a fifty-two week high of $6.26. The company’s 50 day moving average price is $2.77 and its two-hundred day moving average price is $2.93. The firm has a market capitalization of $17.86 million, a price-to-earnings ratio of -0.38 and a beta of 0.78.

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

Institutional Investors Weigh In On MEI Pharma

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Corsair Capital Management L.P. bought a new stake in MEI Pharma in the third quarter valued at approximately $69,000. World Investment Advisors LLC bought a new position in MEI Pharma during the 3rd quarter worth approximately $71,000. Finally, National Bank of Canada FI lifted its position in shares of MEI Pharma by 43.5% in the 2nd quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock worth $94,000 after purchasing an additional 10,000 shares during the period. Institutional investors and hedge funds own 52.38% of the company’s stock.

About MEI Pharma

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.