MEI Pharma (NASDAQ:MEIP) Now Covered by StockNews.com

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

Separately, Stifel Nicolaus reiterated a hold rating and set a $7.00 price target on shares of MEI Pharma in a research note on Friday, April 12th.

MEI Pharma Price Performance

NASDAQ MEIP opened at $2.86 on Thursday. The firm’s 50-day moving average is $2.91 and its two-hundred day moving average is $3.70. MEI Pharma has a 12 month low of $2.73 and a 12 month high of $7.87. The stock has a market capitalization of $19.05 million, a P/E ratio of 0.73 and a beta of 0.86.

MEI Pharma (NASDAQ:MEIP) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($1.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.01. As a group, analysts anticipate that MEI Pharma will post 3.22 EPS for the current year.

Institutional Trading of MEI Pharma

An institutional investor recently bought a new position in MEI Pharma stock. National Bank of Canada FI bought a new position in shares of MEI Pharma, Inc. (NASDAQ:MEIP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,000 shares of the company’s stock, valued at approximately $36,000. National Bank of Canada FI owned 0.09% of MEI Pharma as of its most recent filing with the Securities and Exchange Commission (SEC). 52.38% of the stock is currently owned by 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.