MEI Pharma (NASDAQ:MEIP) Receives New Coverage from 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 firm issued a buy rating on the stock.

Several other equities analysts have also recently issued reports on MEIP. Laidlaw cut shares of MEI Pharma from a buy rating to a hold rating in a research report on Tuesday, July 23rd. Brookline Capital Management cut MEI Pharma from a strong-buy rating to a hold rating in a research 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. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $7.00.

MEI Pharma Stock Down 1.7 %

NASDAQ:MEIP opened at $2.93 on Friday. The firm’s fifty day simple moving average is $3.21 and its 200 day simple moving average is $3.22. The stock has a market cap of $19.52 million, a P/E ratio of 0.75 and a beta of 0.86. MEI Pharma has a twelve month low of $2.73 and a twelve month high of $7.87.

Institutional Investors Weigh In On MEI Pharma

A hedge fund recently bought a new stake in MEI Pharma stock. Cable Car Capital LLC acquired a new stake in shares of MEI Pharma, Inc. (NASDAQ:MEIP) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 611,440 shares of the company’s stock, valued at approximately $3,546,000. MEI Pharma makes up 3.9% of Cable Car Capital LLC’s holdings, making the stock its 10th biggest position. Cable Car Capital LLC owned approximately 9.18% 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.

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.