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

Investment analysts at StockNews.com started coverage on shares of MEI Pharma (NASDAQ:MEIPGet Free Report) in a research report issued to clients and investors on Saturday. The brokerage set a “buy” rating on the stock.

Separately, Stifel Nicolaus restated a “hold” rating and set a $7.00 price objective on shares of MEI Pharma in a report on Friday, April 12th.

Get Our Latest Stock Report on MEI Pharma

MEI Pharma Trading Up 1.8 %

MEIP opened at $2.87 on Friday. MEI Pharma has a 1-year low of $2.73 and a 1-year high of $7.87. The firm has a 50-day moving average price of $3.23 and a two-hundred day moving average price of $4.45. The stock has a market capitalization of $19.11 million, a PE ratio of 0.73 and a beta of 0.80.

MEI Pharma (NASDAQ:MEIPGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($1.37) EPS for the quarter, topping the consensus estimate of ($1.38) by $0.01. MEI Pharma had a net margin of 39.06% and a return on equity of 48.32%. On average, research analysts predict that MEI Pharma will post 3.22 EPS for the current year.

Institutional Inflows and Outflows

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:MEIPFree Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,000 shares of the company’s stock, valued at approximately $36,000. National Bank of Canada FI owned approximately 0.09% of MEI Pharma at the end of the most recent quarter. 52.38% of the stock is owned by institutional investors.

About MEI Pharma

(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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