MEI Pharma (NASDAQ:MEIP) Research Coverage Started at StockNews.com

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

Several other equities research analysts have also recently commented on the company. Laidlaw cut MEI Pharma from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Brookline Capital Management lowered shares of MEI Pharma from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 22nd. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.00.

MEI Pharma Stock Down 0.2 %

Shares of NASDAQ:MEIP opened at $2.74 on Tuesday. The firm has a market cap of $18.22 million, a price-to-earnings ratio of 0.70 and a beta of 0.85. MEI Pharma has a 12 month low of $2.61 and a 12 month high of $7.87. The company’s fifty day simple moving average is $2.94 and its 200 day simple moving average is $3.06.

MEI Pharma (NASDAQ:MEIP) last released its earnings results on Thursday, September 19th. The company reported ($1.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.48) by $0.35. Research analysts expect that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

Institutional Trading of MEI Pharma

An institutional investor recently raised its position in MEI Pharma stock. National Bank of Canada FI lifted its stake in shares of MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,000 shares of the company’s stock after purchasing an additional 10,000 shares during the period. National Bank of Canada FI owned 0.50% of MEI Pharma worth $94,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.