MEI Pharma (NASDAQ:MEIP) Coverage Initiated at StockNews.com

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

Other research analysts have also issued reports about the stock. Laidlaw lowered shares of MEI Pharma from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Brookline Capital Management cut MEI Pharma from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 22nd. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.00.

MEI Pharma Stock Up 0.5 %

Shares of NASDAQ MEIP opened at $2.75 on Tuesday. The business has a 50-day moving average price of $2.93 and a 200 day moving average price of $3.05. The stock has a market cap of $18.32 million, a PE ratio of 1.03 and a beta of 0.85. MEI Pharma has a 52-week low of $2.61 and a 52-week high of $7.87.

MEI Pharma (NASDAQ:MEIP) last posted its quarterly earnings data on Thursday, September 19th. The company reported ($1.13) earnings per share for the quarter, beating the consensus estimate of ($1.48) by $0.35. Sell-side analysts anticipate that MEI Pharma will post -5.1 earnings per share for the current year.

Hedge Funds Weigh In On MEI Pharma

An institutional investor recently raised its position in MEI Pharma stock. National Bank of Canada FI lifted its position in shares of MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,000 shares of the company’s stock after acquiring an additional 10,000 shares during the quarter. National Bank of Canada FI owned 0.50% of MEI Pharma worth $94,000 at the end of the most recent quarter. 52.38% of the stock is owned by hedge funds and other institutional investors.

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.