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

StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report sent to investors on Friday morning. The firm issued a buy rating on the stock.

MEI Pharma Trading Up 0.4 %

Shares of MEIP stock opened at $2.70 on Friday. The company has a market capitalization of $17.99 million, a price-to-earnings ratio of -0.39 and a beta of 0.78. MEI Pharma has a 1-year low of $2.30 and a 1-year high of $6.05. The stock’s fifty day simple moving average is $2.73 and its 200-day simple moving average is $2.93.

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

Hedge Funds Weigh In On MEI Pharma

Several institutional investors and hedge funds have recently modified their holdings of the stock. World Investment Advisors LLC acquired a new stake in MEI Pharma during the third quarter valued at $71,000. Corsair Capital Management L.P. acquired a new stake in shares of MEI Pharma during the 3rd quarter valued at about $69,000. Finally, National Bank of Canada FI grew its stake in shares of MEI Pharma by 43.5% in the 2nd quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock valued at $94,000 after buying an additional 10,000 shares in the last quarter. 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.