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

StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIPFree Report) in a research note issued to investors on Sunday morning. The brokerage issued a buy rating on the stock.

MEI Pharma Stock Performance

NASDAQ MEIP opened at $2.87 on Friday. The stock has a fifty day moving average of $2.68 and a 200-day moving average of $2.93. The stock has a market capitalization of $19.11 million, a P/E ratio of -0.41 and a beta of 0.78. MEI Pharma has a 52 week low of $2.30 and a 52 week high of $4.97.

MEI Pharma (NASDAQ:MEIPGet Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.20) EPS for the quarter. Equities research analysts forecast that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MEI Pharma stock. World Investment Advisors LLC purchased a new stake in MEI Pharma, Inc. (NASDAQ:MEIPFree Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 25,000 shares of the company’s stock, valued at approximately $71,000. World Investment Advisors LLC owned approximately 0.38% of MEI Pharma at the end of the most recent reporting period. 52.38% of the stock is owned by institutional investors.

MEI Pharma Company Profile

(Get Free Report)

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.

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