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

Research analysts at StockNews.com began coverage on shares of MEI Pharma (NASDAQ:MEIP) in a note issued to investors on Friday. The firm set a “buy” rating on the stock.

A number of other research firms have also weighed in on MEIP. Brookline Capital Management lowered MEI Pharma from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 22nd. Laidlaw downgraded MEI Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.00.

MEI Pharma Stock Performance

MEIP stock opened at $3.01 on Friday. The company has a market capitalization of $20.05 million, a PE ratio of -0.43 and a beta of 0.83. MEI Pharma has a one year low of $2.61 and a one year high of $7.87. The company’s 50 day moving average price is $2.92 and its two-hundred day moving average price is $3.02.

MEI Pharma (NASDAQ:MEIP) last issued its earnings results on Thursday, September 19th. The company reported ($1.13) EPS for the quarter, topping analysts’ consensus estimates of ($1.48) by $0.35. On average, research analysts predict that MEI Pharma will post -5.1 EPS for the current year.

Institutional Trading of MEI Pharma

A hedge fund recently raised its stake in MEI Pharma stock. National Bank of Canada FI raised its holdings in MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,000 shares of the company’s stock after buying an additional 10,000 shares during the quarter. National Bank of Canada FI owned about 0.50% of MEI Pharma worth $94,000 at the end of the most recent quarter. 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.