MEI Pharma (NASDAQ:MEIP) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com started coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report issued on Monday. The brokerage set a “buy” rating on the stock.

MEI Pharma Stock Performance

Shares of MEI Pharma stock opened at $2.79 on Monday. The firm has a fifty day moving average of $2.68 and a two-hundred day moving average of $2.92. The stock has a market capitalization of $18.58 million, a price-to-earnings ratio of -0.40 and a beta of 0.79. MEI Pharma has a 52 week low of $2.30 and a 52 week high of $4.97.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MEI Pharma stock. Corsair Capital Management L.P. acquired a new stake in MEI Pharma, Inc. (NASDAQ:MEIP) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 24,370 shares of the company’s stock, valued at approximately $69,000. Corsair Capital Management L.P. owned 0.37% of MEI Pharma as of its most recent filing with the SEC. 52.38% of the stock is 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.