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

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

MEI Pharma Stock Performance

MEI Pharma stock opened at $2.78 on Friday. The stock has a market cap of $18.51 million, a P/E ratio of -0.40 and a beta of 0.83. MEI Pharma has a fifty-two week low of $2.61 and a fifty-two week high of $6.91. The firm’s fifty day moving average price is $2.89 and its 200-day moving average price is $3.01.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.20) earnings per share for the quarter. Sell-side analysts predict that MEI Pharma will post -5.1 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in MEI Pharma stock. National Bank of Canada FI boosted its position in MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,000 shares of the company’s stock after acquiring an additional 10,000 shares during the quarter. National Bank of Canada FI owned 0.50% of MEI Pharma worth $94,000 as of its most recent filing with the Securities & Exchange Commission. 52.38% of the stock is owned by institutional investors.

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.