MEI Pharma (NASDAQ:MEIP) Now Covered by Analysts at StockNews.com

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

Several other analysts have also issued reports on MEIP. TheStreet lowered MEI Pharma from a c- rating to a d+ rating in a research note on Thursday, February 1st. Stifel Nicolaus reiterated a hold rating and set a $7.00 target price on shares of MEI Pharma in a research note on Friday, April 12th.

MEI Pharma Stock Down 2.2 %

NASDAQ:MEIP opened at $3.26 on Friday. The stock’s 50 day moving average price is $3.87 and its two-hundred day moving average price is $5.30. The firm has a market capitalization of $21.72 million, a price-to-earnings ratio of 1.10 and a beta of 0.77. MEI Pharma has a 12-month low of $3.20 and a 12-month high of $7.97.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings data on Tuesday, February 13th. The company reported ($1.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.46) by ($0.20). MEI Pharma had a net margin of 39.06% and a return on equity of 39.72%. Equities research analysts expect that MEI Pharma will post 3.24 EPS for the current year.

Institutional Investors Weigh In On MEI Pharma

A hedge fund recently bought a new stake in MEI Pharma stock. Cable Car Capital LLC bought a new position in shares of MEI Pharma, Inc. (NASDAQ:MEIP) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 611,440 shares of the company’s stock, valued at approximately $3,546,000. MEI Pharma accounts for 3.9% of Cable Car Capital LLC’s holdings, making the stock its 10th biggest holding. Cable Car Capital LLC owned approximately 9.18% of MEI Pharma as of its most recent SEC filing. Institutional investors and hedge funds own 52.38% of the company’s stock.

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.