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

StockNews.com began coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report sent to investors on Tuesday. The brokerage issued a buy rating on the stock.

MEI Pharma Stock Performance

Shares of MEIP opened at $2.45 on Tuesday. MEI Pharma has a one year low of $2.43 and a one year high of $6.52. The stock’s fifty day moving average is $2.83 and its 200-day moving average is $2.96. The firm has a market capitalization of $16.32 million, a price-to-earnings ratio of -0.35 and a beta of 0.79.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.20) EPS for the quarter. Analysts forecast that MEI Pharma will post -5.1 EPS for the current fiscal year.

Hedge Funds Weigh In On MEI Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Corsair Capital Management L.P. acquired a new position in shares of MEI Pharma in the 3rd quarter worth approximately $69,000. World Investment Advisors LLC purchased a new stake in shares of MEI Pharma in the third quarter valued at $71,000. Finally, National Bank of Canada FI grew its stake in MEI Pharma by 43.5% during the 2nd quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock valued at $94,000 after acquiring an additional 10,000 shares in the last quarter. 52.38% of the stock is owned by institutional investors.

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.