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

StockNews.com began coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report released on Sunday. The brokerage set a “buy” rating on the stock.

MEI Pharma Trading Up 1.1 %

MEIP opened at $2.85 on Friday. MEI Pharma has a twelve month low of $2.30 and a twelve month high of $4.97. The stock has a market cap of $18.98 million, a PE ratio of -0.41 and a beta of 0.78. The business’s 50 day moving average is $2.68 and its 200-day moving average is $2.92.

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

Institutional Trading of MEI Pharma

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 the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 SEC filing. 52.38% of the stock is currently owned by hedge funds and other 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.