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

Analysts at StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research note issued on Tuesday. The brokerage set a “buy” rating on the stock.

MEI Pharma Stock Performance

MEI Pharma stock opened at $1.93 on Tuesday. The firm has a market cap of $12.86 million, a price-to-earnings ratio of -0.34 and a beta of 0.75. MEI Pharma has a 52-week low of $1.90 and a 52-week high of $4.10. The firm has a 50 day moving average price of $2.50 and a two-hundred day moving average price of $2.68.

MEI Pharma (NASDAQ:MEIP) last announced its earnings results on Wednesday, February 12th. The company reported ($0.48) earnings per share for the quarter. As a group, equities research analysts predict that MEI Pharma will post -5.1 EPS for the current fiscal year.

Institutional Investors Weigh In On MEI Pharma

Several institutional investors and hedge funds have recently made changes to their positions in the business. Northern Trust Corp boosted its holdings in shares of MEI Pharma by 54.5% during the 4th quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock worth $88,000 after buying an additional 12,561 shares in the last quarter. World Investment Advisors LLC bought a new position in MEI Pharma during the third quarter worth $71,000. Toronto Dominion Bank acquired a new stake in MEI Pharma in the fourth quarter worth $62,000. Finally, Virtu Financial LLC bought a new stake in MEI Pharma in the fourth quarter valued at $26,000. Institutional investors own 52.38% of the company’s stock.

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.