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

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

MEI Pharma Stock Performance

MEIP opened at $2.40 on Friday. MEI Pharma has a 52-week low of $2.30 and a 52-week high of $4.24. The firm has a market capitalization of $15.99 million, a PE ratio of -0.42 and a beta of 0.79. The business’s 50-day simple moving average is $2.68 and its 200 day simple moving average is $2.80.

MEI Pharma (NASDAQ:MEIP) last released its earnings results on Wednesday, February 12th. The company reported ($0.48) earnings per share (EPS) for the quarter. On average, research analysts forecast that MEI Pharma will post -5.1 earnings per share for the current year.

Institutional Trading of MEI Pharma

Institutional investors and hedge funds have recently bought and sold shares of the stock. Corsair Capital Management L.P. bought a new stake in MEI Pharma during the third quarter worth about $69,000. World Investment Advisors LLC acquired a new position in MEI Pharma during the third quarter worth approximately $71,000. Northern Trust Corp increased its position in MEI Pharma by 54.5% during the fourth quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock worth $88,000 after buying an additional 12,561 shares during the last quarter. Toronto Dominion Bank acquired a new position in MEI Pharma during the fourth quarter worth approximately $62,000. Finally, Virtu Financial LLC acquired a new position in MEI Pharma during the fourth quarter worth approximately $26,000. 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.