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

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

MEI Pharma Trading Up 3.6 %

NASDAQ:MEIP opened at $2.87 on Friday. The firm has a market capitalization of $19.11 million, a price-to-earnings ratio of -0.41 and a beta of 0.78. MEI Pharma has a 1-year low of $2.30 and a 1-year high of $5.06. The business’s fifty day moving average price is $2.70 and its 200 day moving average price is $2.92.

MEI Pharma (NASDAQ:MEIP) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.20) EPS for the quarter. Equities analysts forecast that MEI Pharma will post -5.1 earnings per share for the current year.

Institutional Investors Weigh In On MEI Pharma

A hedge fund recently bought a new stake in MEI Pharma stock. Corsair Capital Management L.P. acquired a new stake in shares of MEI Pharma, Inc. (NASDAQ:MEIP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 24,370 shares of the company’s stock, valued at approximately $69,000. Corsair Capital Management L.P. owned approximately 0.37% of MEI Pharma as of its most recent filing with the Securities & Exchange Commission. 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.