MEI Pharma (NASDAQ:MEIP) Earns Buy Rating from Analysts at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIP) in a note issued to investors on Wednesday. The brokerage set a “buy” rating on the stock.

MEI Pharma Price Performance

MEIP stock opened at $2.66 on Wednesday. The firm has a market cap of $17.72 million, a PE ratio of -0.46 and a beta of 0.79. MEI Pharma has a 12 month low of $2.30 and a 12 month high of $4.67. The firm has a 50 day simple moving average of $2.67 and a 200 day simple moving average of $2.87.

MEI Pharma (NASDAQ:MEIP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.48) earnings per share for the quarter. As a group, sell-side analysts expect that MEI Pharma will post -5.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MEIP. Virtu Financial LLC acquired a new stake in MEI Pharma in the 4th quarter valued at approximately $26,000. Toronto Dominion Bank bought a new stake in MEI Pharma in the 4th quarter valued at $62,000. Corsair Capital Management L.P. acquired a new position in MEI Pharma in the third quarter worth about $69,000. World Investment Advisors LLC acquired a new position in shares of MEI Pharma in the 3rd quarter worth approximately $71,000. Finally, Northern Trust Corp boosted its stake in shares of MEI Pharma by 54.5% in the 4th quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock valued at $88,000 after purchasing an additional 12,561 shares in the last quarter. Hedge funds and other institutional investors 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.