StockNews.com Initiates Coverage on MEI Pharma (NASDAQ:MEIP)

Research analysts at StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report issued on Thursday. The firm set a “buy” rating on the stock.

MEI Pharma Price Performance

Shares of MEI Pharma stock opened at $2.68 on Thursday. MEI Pharma has a 1-year low of $2.30 and a 1-year high of $6.26. The stock has a market cap of $17.86 million, a P/E ratio of -0.38 and a beta of 0.79. The stock’s 50 day simple moving average is $2.77 and its 200-day simple moving average is $2.93.

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

Hedge Funds Weigh In On MEI Pharma

Hedge funds have recently modified their holdings of the business. Corsair Capital Management L.P. purchased a new stake in shares of MEI Pharma in the 3rd quarter valued at approximately $69,000. World Investment Advisors LLC acquired a new stake in MEI Pharma in the 3rd quarter valued at approximately $71,000. Finally, National Bank of Canada FI raised its position in MEI Pharma by 43.5% in the second quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock valued at $94,000 after purchasing an additional 10,000 shares during the period. 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.