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

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

MEI Pharma Stock Performance

Shares of NASDAQ:MEIP opened at $2.77 on Friday. The company has a 50 day moving average price of $2.86 and a 200 day moving average price of $3.00. The stock has a market capitalization of $18.45 million, a price-to-earnings ratio of -0.40 and a beta of 0.79. MEI Pharma has a 1-year low of $2.61 and a 1-year high of $6.91.

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

Institutional Investors Weigh In On MEI Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. National Bank of Canada FI grew its holdings in 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. Corsair Capital Management L.P. bought a new stake in shares of MEI Pharma during the 3rd quarter worth approximately $69,000. Finally, World Investment Advisors LLC bought a new position in MEI Pharma in the third quarter valued at about $71,000. 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.