MEI Pharma (NASDAQ:MEIP) Now Covered by Analysts at StockNews.com

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

Other analysts have also issued research reports about the stock. Brookline Capital Management lowered shares of MEI Pharma from a “strong-buy” rating to a “hold” rating in a report on Monday, July 22nd. Laidlaw cut MEI Pharma from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $7.00.

MEI Pharma Stock Performance

NASDAQ:MEIP traded up $0.03 during trading hours on Thursday, reaching $3.06. The stock had a trading volume of 10,522 shares, compared to its average volume of 51,689. MEI Pharma has a 12-month low of $2.61 and a 12-month high of $7.87. The stock has a 50 day simple moving average of $2.92 and a 200 day simple moving average of $3.03. The stock has a market cap of $20.38 million, a P/E ratio of 1.13 and a beta of 0.83.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings data on Thursday, September 19th. The company reported ($1.13) EPS for the quarter, beating the consensus estimate of ($1.48) by $0.35. On average, equities analysts expect that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in MEI Pharma stock. National Bank of Canada FI increased its holdings in MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,000 shares of the company’s stock after acquiring an additional 10,000 shares during the quarter. National Bank of Canada FI owned about 0.50% of MEI Pharma worth $94,000 as of its most recent filing with the Securities & Exchange Commission. 52.38% of the stock is 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.