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

StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report released on Sunday morning. The brokerage issued a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Laidlaw lowered shares of MEI Pharma from a buy rating to a hold rating in a report on Tuesday, July 23rd. Brookline Capital Management lowered shares of MEI Pharma from a strong-buy rating to a hold rating in a report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, MEI Pharma has a consensus rating of Hold and a consensus target price of $7.00.

MEI Pharma Stock Up 2.4 %

MEIP traded up $0.08 on Friday, reaching $3.48. 20,093 shares of the company traded hands, compared to its average volume of 55,151. MEI Pharma has a one year low of $2.73 and a one year high of $7.87. The firm has a fifty day simple moving average of $3.04 and a two-hundred day simple moving average of $3.50. The company has a market cap of $23.19 million, a P/E ratio of 0.88 and a beta of 0.86.

MEI Pharma (NASDAQ:MEIP) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($1.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.01. On average, equities analysts forecast that MEI Pharma will post 3.22 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MEI Pharma stock. National Bank of Canada FI acquired a new position in MEI Pharma, Inc. (NASDAQ:MEIP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,000 shares of the company’s stock, valued at approximately $36,000. National Bank of Canada FI owned about 0.09% of MEI Pharma as of its most recent SEC filing. 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.