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

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

A number of other equities analysts have also recently issued reports on MEIP. TheStreet cut shares of MEI Pharma from a “c-” rating to a “d+” rating in a report on Thursday, February 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $7.00 price target on shares of MEI Pharma in a report on Friday, April 12th.

MEI Pharma Stock Performance

NASDAQ:MEIP opened at $3.05 on Monday. The company has a market capitalization of $20.31 million, a price-to-earnings ratio of 1.03 and a beta of 0.77. MEI Pharma has a one year low of $3.02 and a one year high of $7.97. The stock has a 50-day simple moving average of $3.76 and a 200 day simple moving average of $5.18.

MEI Pharma (NASDAQ:MEIP) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($1.66) EPS for the quarter, missing analysts’ consensus estimates of ($1.46) by ($0.20). MEI Pharma had a return on equity of 39.72% and a net margin of 39.06%. On average, equities research analysts forecast that MEI Pharma will post 3.24 EPS for the current fiscal year.

Institutional Investors Weigh In On MEI Pharma

An institutional investor recently bought a new position in MEI Pharma stock. National Bank of Canada FI acquired a new stake in shares of MEI Pharma, Inc. (NASDAQ:MEIP) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 6,000 shares of the company’s stock, valued at approximately $36,000. National Bank of Canada FI owned 0.09% of MEI Pharma at the end of the most recent reporting period. 52.38% of the stock is currently owned by institutional investors and hedge funds.

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.