MEI Pharma (NASDAQ:MEIP) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report issued on Friday. The brokerage issued a buy rating on the stock.

Several other research firms have also issued reports on MEIP. Brookline Capital Management lowered shares of MEI Pharma from a “strong-buy” rating to a “hold” rating in a report on Monday, July 22nd. Laidlaw cut MEI Pharma from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $7.00.

MEI Pharma Trading Down 1.5 %

Shares of MEI Pharma stock opened at $2.88 on Friday. MEI Pharma has a 12 month low of $2.61 and a 12 month high of $6.91. The firm has a market capitalization of $19.16 million, a P/E ratio of -0.41 and a beta of 0.83. The business has a fifty day simple moving average of $2.92 and a two-hundred day simple moving average of $3.02.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MEI Pharma stock. Corsair Capital Management L.P. purchased a new stake in shares of MEI Pharma, Inc. (NASDAQ:MEIP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,370 shares of the company’s stock, valued at approximately $69,000. Corsair Capital Management L.P. owned approximately 0.37% of MEI Pharma as of its most recent SEC filing. 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.