MEI Pharma (NASDAQ:MEIP) Now Covered by StockNews.com

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

MEIP has been the subject of a number of other research reports. Laidlaw cut MEI Pharma from a buy rating to a hold rating in a research note on Tuesday, July 23rd. Brookline Capital Management lowered MEI Pharma from a strong-buy rating to a hold rating in a research report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $7.00.

MEI Pharma Price Performance

Shares of NASDAQ MEIP opened at $2.85 on Friday. MEI Pharma has a 1 year low of $2.73 and a 1 year high of $7.87. The firm has a 50-day moving average of $3.21 and a 200 day moving average of $3.19. The stock has a market cap of $18.99 million, a P/E ratio of 0.73 and a beta of 0.86.

MEI Pharma (NASDAQ:MEIP) last released its earnings results on Thursday, September 19th. The company reported ($1.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.48) by $0.35. Research analysts expect that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

Institutional Trading of MEI Pharma

An institutional investor recently raised its position in MEI Pharma stock. National Bank of Canada FI lifted its holdings in shares of MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,000 shares of the company’s stock after buying an additional 10,000 shares during the period. National Bank of Canada FI owned approximately 0.50% of MEI Pharma worth $94,000 at the end of the most recent reporting period. 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.