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

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

MEI Pharma Stock Up 1.1 %

NASDAQ:MEIP opened at $2.79 on Monday. The firm has a market cap of $18.58 million, a PE ratio of -0.40 and a beta of 0.79. The company’s 50-day moving average price is $2.68 and its two-hundred day moving average price is $2.92. MEI Pharma has a 12 month low of $2.30 and a 12 month high of $4.97.

MEI Pharma (NASDAQ:MEIP) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.20) EPS for the quarter. On average, research analysts expect that MEI Pharma will post -5.1 EPS for the current fiscal year.

Hedge Funds Weigh In On MEI Pharma

An institutional investor recently bought a new position in MEI Pharma stock. World Investment Advisors LLC purchased a new stake in MEI Pharma, Inc. (NASDAQ:MEIP) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 25,000 shares of the company’s stock, valued at approximately $71,000. World Investment Advisors LLC owned approximately 0.38% of MEI Pharma at the end of the most recent reporting period. 52.38% of the stock is currently owned by 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.