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

Investment analysts at StockNews.com started coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report issued to clients and investors on Saturday. The firm set a “buy” rating on the stock.

MEI Pharma Trading Up 1.3 %

Shares of MEI Pharma stock opened at $2.33 on Friday. The firm has a market capitalization of $15.53 million, a PE ratio of -0.41 and a beta of 0.76. The firm’s 50 day moving average is $2.67 and its 200 day moving average is $2.77. MEI Pharma has a 1 year low of $2.30 and a 1 year high of $4.15.

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

Institutional Investors Weigh In On MEI Pharma

A number of institutional investors have recently added to or reduced their stakes in MEIP. Toronto Dominion Bank bought a new stake in MEI Pharma during the 4th quarter worth approximately $62,000. World Investment Advisors LLC acquired a new position in shares of MEI Pharma in the 3rd quarter worth approximately $71,000. Corsair Capital Management L.P. acquired a new position in shares of MEI Pharma in the 3rd quarter worth approximately $69,000. Northern Trust Corp lifted its position 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 worth $88,000 after purchasing an additional 12,561 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of MEI Pharma in the 4th quarter worth approximately $26,000. 52.38% of the stock is owned by institutional investors.

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.