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

Equities research analysts at StockNews.com started coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research note issued on Saturday. The brokerage set a “buy” rating on the stock.

A number of other equities research analysts also recently issued reports on MEIP. Laidlaw downgraded shares of MEI Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Brookline Capital Management lowered MEI Pharma from a “strong-buy” rating to a “hold” rating in a report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, MEI Pharma currently has an average rating of “Hold” and an average price target of $7.00.

MEI Pharma Price Performance

Shares of MEI Pharma stock opened at $2.90 on Friday. MEI Pharma has a 52 week low of $2.73 and a 52 week high of $7.87. The business has a 50 day moving average price of $3.21 and a 200-day moving average price of $3.20. The company has a market cap of $19.32 million, a PE ratio of 0.74 and a beta of 0.86.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings results on Thursday, September 19th. The company reported ($1.13) EPS for the quarter, beating analysts’ consensus estimates of ($1.48) by $0.35. As a group, research analysts anticipate that MEI Pharma will post -5.1 EPS for the current year.

Institutional Investors Weigh In On MEI Pharma

An institutional investor recently bought a new position in MEI Pharma stock. Cable Car Capital LLC bought a new position in MEI Pharma, Inc. (NASDAQ:MEIP) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 611,440 shares of the company’s stock, valued at approximately $3,546,000. MEI Pharma comprises 3.9% of Cable Car Capital LLC’s holdings, making the stock its 10th biggest position. Cable Car Capital LLC owned approximately 9.18% of MEI Pharma as of its most recent filing with the Securities & Exchange Commission. Institutional investors 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.