MEI Pharma (NASDAQ:MEIP) Research Coverage Started at StockNews.com

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

MEI Pharma Price Performance

NASDAQ:MEIP opened at $2.35 on Friday. MEI Pharma has a 12 month low of $2.28 and a 12 month high of $4.15. The firm has a market capitalization of $15.66 million, a PE ratio of -0.41 and a beta of 0.76. The business’s fifty day moving average price is $2.62 and its 200 day moving average price is $2.73.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.48) earnings per share (EPS) for the quarter. As a group, equities analysts anticipate that MEI Pharma will post -5.1 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Northern Trust Corp raised its stake in MEI Pharma by 54.5% during the 4th quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock worth $88,000 after acquiring an additional 12,561 shares in the last quarter. Toronto Dominion Bank acquired a new stake in shares of MEI Pharma during the fourth quarter worth about $62,000. World Investment Advisors LLC purchased a new stake in shares of MEI Pharma in the 3rd quarter valued at about $71,000. Corsair Capital Management L.P. acquired a new stake in shares of MEI Pharma in the 3rd quarter valued at about $69,000. Finally, Virtu Financial LLC acquired a new stake in shares of MEI Pharma in the 4th quarter valued at about $26,000. Institutional investors and hedge funds 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.