MEI Pharma (NASDAQ:MEIP) Earns Buy Rating from Analysts at StockNews.com

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

MEI Pharma Price Performance

MEI Pharma stock opened at $2.84 on Monday. MEI Pharma has a fifty-two week low of $2.30 and a fifty-two week high of $4.97. The firm has a market capitalization of $18.91 million, a price-to-earnings ratio of -0.41 and a beta of 0.79. The company’s 50 day simple moving average is $2.68 and its 200 day simple moving average is $2.92.

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

Institutional Investors Weigh In On MEI Pharma

An institutional investor recently bought a new position in MEI Pharma stock. Corsair Capital Management L.P. bought a new position in shares of MEI Pharma, Inc. (NASDAQ:MEIP) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 24,370 shares of the company’s stock, valued at approximately $69,000. Corsair Capital Management L.P. owned approximately 0.37% of MEI Pharma as of its most recent filing with the Securities and Exchange Commission. 52.38% of the stock is currently owned by hedge funds and other institutional investors.

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.