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

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

MEI Pharma Stock Up 2.9 %

MEIP stock opened at $2.84 on Friday. The firm has a market cap of $18.92 million, a price-to-earnings ratio of -0.41 and a beta of 0.83. The company’s fifty day simple moving average is $2.89 and its 200 day simple moving average is $3.01. MEI Pharma has a 12-month low of $2.61 and a 12-month high of $6.91.

MEI Pharma (NASDAQ:MEIP) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.20) earnings per share (EPS) for the quarter. Research analysts expect that MEI Pharma will post -5.1 earnings per share for the current year.

Institutional Trading of MEI Pharma

Large investors have recently modified their holdings of the stock. National Bank of Canada FI boosted its stake in MEI Pharma by 43.5% during the second quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock worth $94,000 after acquiring an additional 10,000 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of MEI Pharma during the third quarter valued at about $71,000. Finally, Corsair Capital Management L.P. bought a new position in shares of MEI Pharma during the 3rd quarter worth about $69,000. 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.