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

Stock analysts at StockNews.com assumed 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.

Other equities research analysts also recently issued reports about the company. Stifel Nicolaus reissued a “hold” rating and issued a $7.00 price objective on shares of MEI Pharma in a report on Friday, April 12th. TheStreet downgraded MEI Pharma from a “c-” rating to a “d+” rating in a report on Thursday, February 1st.

MEI Pharma Trading Down 1.6 %

MEIP stock opened at $3.05 on Monday. The company has a market capitalization of $20.32 million, a P/E ratio of 1.03 and a beta of 0.77. MEI Pharma has a twelve month low of $3.03 and a twelve month high of $7.97. The business has a 50 day simple moving average of $3.81 and a 200-day simple moving average of $5.23.

MEI Pharma (NASDAQ:MEIP) last posted its quarterly earnings data on Tuesday, February 13th. The company reported ($1.66) earnings per share 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%. Research analysts predict that MEI Pharma will post 3.24 EPS for the current fiscal year.

Institutional Investors Weigh In On MEI Pharma

A hedge fund recently bought a new stake in MEI Pharma stock. National Bank of Canada FI purchased a new position in shares of MEI Pharma, Inc. (NASDAQ:MEIP) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 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. 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.