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

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

MEI Pharma Trading Down 1.8 %

Shares of MEIP stock opened at $2.15 on Monday. MEI Pharma has a 12 month low of $2.15 and a 12 month high of $4.11. The stock has a market cap of $14.33 million, a P/E ratio of -0.38 and a beta of 0.76. The company has a 50 day simple moving average of $2.56 and a two-hundred day simple moving average of $2.71.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MEIP. Toronto Dominion Bank purchased a new stake in MEI Pharma in the 4th quarter worth approximately $62,000. World Investment Advisors LLC purchased a new position in MEI Pharma during the third quarter valued at approximately $71,000. Northern Trust Corp boosted its position in shares of MEI Pharma by 54.5% in the fourth 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 purchased a new stake in shares of MEI Pharma in the fourth quarter worth $26,000. 52.38% of the stock is owned by hedge funds and other 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.