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 note issued to investors on Friday morning. The brokerage issued a buy rating on the stock.

MEI Pharma Price Performance

MEIP stock opened at $2.40 on Friday. MEI Pharma has a 12 month low of $2.30 and a 12 month high of $4.24. The firm has a market cap of $15.99 million, a PE ratio of -0.42 and a beta of 0.76. The firm has a 50 day simple moving average of $2.68 and a 200 day simple moving average of $2.80.

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

Institutional Investors Weigh In On MEI Pharma

Large investors have recently made changes to their positions in the company. Virtu Financial LLC acquired a new stake in shares of MEI Pharma during the fourth quarter valued at approximately $26,000. Toronto Dominion Bank acquired a new stake in shares of MEI Pharma during the fourth quarter valued at approximately $62,000. Corsair Capital Management L.P. acquired a new stake in shares of MEI Pharma during the third quarter valued at approximately $69,000. World Investment Advisors LLC acquired a new stake in shares of MEI Pharma during the third quarter valued at approximately $71,000. Finally, Northern Trust Corp raised its holdings in shares of MEI Pharma by 54.5% during the fourth quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock valued at $88,000 after acquiring an additional 12,561 shares during the period. Institutional investors and hedge funds 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.