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

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

MEI Pharma Stock Up 0.8 %

Shares of NASDAQ MEIP opened at $2.60 on Tuesday. The business’s 50 day moving average price is $2.84 and its two-hundred day moving average price is $2.97. The company has a market cap of $17.32 million, a PE ratio of -0.37 and a beta of 0.79. MEI Pharma has a twelve month low of $2.51 and a twelve month high of $6.52.

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 anticipate that MEI Pharma will post -5.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MEIP. Corsair Capital Management L.P. bought a new position in MEI Pharma during the 3rd quarter worth $69,000. World Investment Advisors LLC bought a new position in MEI Pharma during the 3rd quarter worth $71,000. Finally, National Bank of Canada FI raised its position in MEI Pharma by 43.5% during the 2nd quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock worth $94,000 after purchasing an additional 10,000 shares during the last quarter. 52.38% of the stock is currently 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.