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 note issued to investors on Friday. The brokerage issued a buy rating on the stock.

Several other equities research analysts also recently weighed in on the company. Brookline Capital Management downgraded MEI Pharma from a “strong-buy” rating to a “hold” rating in a report on Monday, July 22nd. Laidlaw cut MEI Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, MEI Pharma presently has an average rating of “Hold” and a consensus target price of $7.00.

MEI Pharma Trading Down 3.0 %

MEI Pharma stock traded down $0.09 during midday trading on Friday, hitting $2.92. The stock had a trading volume of 33,863 shares, compared to its average volume of 50,931. The firm’s fifty day moving average is $2.92 and its two-hundred day moving average is $3.02. The company has a market capitalization of $19.45 million, a PE ratio of -0.42 and a beta of 0.83. MEI Pharma has a 52-week low of $2.61 and a 52-week high of $6.91.

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

Hedge Funds Weigh In On MEI Pharma

A hedge fund recently bought a new stake in MEI Pharma stock. Corsair Capital Management L.P. acquired a new position in shares of MEI Pharma, Inc. (NASDAQ:MEIP) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 24,370 shares of the company’s stock, valued at approximately $69,000. Corsair Capital Management L.P. owned 0.37% of MEI Pharma as of its most recent SEC filing. 52.38% of the stock is 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.