MEI Pharma (NASDAQ:MEIP) Earns Buy Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report released on Thursday morning. The firm issued a buy rating on the stock.

MEI Pharma Stock Performance

Shares of NASDAQ MEIP opened at $2.56 on Thursday. The stock has a market cap of $17.06 million, a price-to-earnings ratio of -0.45 and a beta of 0.79. MEI Pharma has a fifty-two week low of $2.30 and a fifty-two week high of $4.33. The firm’s 50-day simple moving average is $2.68 and its 200 day simple moving average is $2.83.

MEI Pharma (NASDAQ:MEIP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.48) EPS for the quarter. On average, sell-side analysts predict that MEI Pharma will post -5.1 EPS for the current year.

Institutional Trading of MEI Pharma

Institutional investors have recently made changes to their positions in the company. Corsair Capital Management L.P. purchased a new position in MEI Pharma during the third quarter worth about $69,000. World Investment Advisors LLC bought a new position in shares of MEI Pharma during the 3rd quarter worth approximately $71,000. Virtu Financial LLC purchased a new position in shares of MEI Pharma in the 4th quarter worth approximately $26,000. Northern Trust Corp grew its holdings in shares of MEI Pharma by 54.5% in 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 in the last quarter. Finally, Toronto Dominion Bank purchased a new stake in shares of MEI Pharma during the fourth quarter valued at approximately $62,000. Institutional investors own 52.38% of the company’s stock.

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.