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

StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report report published on Wednesday morning. The brokerage issued a buy rating on the stock.

MEIP has been the subject of a number of other reports. Laidlaw downgraded shares of MEI Pharma from a buy rating to a hold rating in a report on Tuesday, July 23rd. Brookline Capital Management downgraded shares of MEI Pharma from a strong-buy rating to a hold rating in a research report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, MEI Pharma presently has a consensus rating of Hold and an average target price of $7.00.

MEI Pharma Trading Down 1.6 %

MEIP opened at $3.10 on Wednesday. The firm has a market cap of $20.66 million, a price-to-earnings ratio of 0.79 and a beta of 0.86. MEI Pharma has a 12 month low of $2.73 and a 12 month high of $7.87. The stock has a fifty day moving average price of $3.16 and a 200-day moving average price of $3.32.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MEI Pharma stock. Cable Car Capital LLC purchased a new position in MEI Pharma, Inc. (NASDAQ:MEIP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 611,440 shares of the company’s stock, valued at approximately $3,546,000. MEI Pharma makes up approximately 3.9% of Cable Car Capital LLC’s portfolio, making the stock its 10th biggest position. Cable Car Capital LLC owned 9.18% of MEI Pharma at the end of the most recent reporting period. 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.