MEI Pharma (NASDAQ:MEIP) Earns Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report released on Monday morning. The brokerage issued a buy rating on the stock.

MEI Pharma Price Performance

Shares of MEIP stock opened at $2.80 on Monday. MEI Pharma has a one year low of $2.61 and a one year high of $6.90. The company has a market cap of $18.65 million, a P/E ratio of -0.40 and a beta of 0.79. The firm has a 50-day moving average of $2.85 and a 200-day moving average of $2.98.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Corsair Capital Management L.P. purchased a new stake in shares of MEI Pharma during the 3rd quarter valued at $69,000. World Investment Advisors LLC bought a new position in MEI Pharma during the third quarter valued at about $71,000. Finally, National Bank of Canada FI grew its position in MEI Pharma by 43.5% during the second quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock valued at $94,000 after buying an additional 10,000 shares during the period. Hedge funds and other 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.