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

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

MEI Pharma Stock Performance

MEIP opened at $2.70 on Friday. The firm has a market cap of $17.99 million, a price-to-earnings ratio of -0.39 and a beta of 0.78. The firm’s 50-day simple moving average is $2.73 and its 200-day simple moving average is $2.93. MEI Pharma has a twelve month low of $2.30 and a twelve month high of $6.05.

MEI Pharma (NASDAQ:MEIP) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.20) earnings per share for the quarter. As a group, sell-side analysts anticipate that MEI Pharma will post -5.1 EPS for the current fiscal year.

Institutional Investors Weigh In On MEI Pharma

Hedge funds have recently added to or reduced their stakes in the stock. World Investment Advisors LLC acquired a new stake in MEI Pharma in the third quarter worth about $71,000. Corsair Capital Management L.P. bought a new position in shares of MEI Pharma in the 3rd quarter valued at about $69,000. Finally, National Bank of Canada FI grew its position in shares of MEI Pharma by 43.5% during the 2nd quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock worth $94,000 after buying an additional 10,000 shares during the period. Institutional investors own 52.38% of the company’s stock.

About MEI Pharma

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.