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

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

Several other analysts have also recently commented on the company. Laidlaw cut MEI Pharma from a buy rating to a hold rating in a report on Tuesday, July 23rd. Stifel Nicolaus restated a hold rating and issued a $7.00 price objective on shares of MEI Pharma in a research report on Friday, April 12th. Finally, Brookline Capital Management cut shares of MEI Pharma from a strong-buy rating to a hold rating in a research note on Monday, July 22nd. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, MEI Pharma has an average rating of Hold and a consensus price target of $7.00.

MEI Pharma Stock Performance

Shares of NASDAQ:MEIP opened at $3.56 on Friday. The company has a market capitalization of $23.71 million, a PE ratio of 0.91 and a beta of 0.86. The company’s fifty day moving average is $2.95 and its 200-day moving average is $3.62. MEI Pharma has a 52 week low of $2.73 and a 52 week high of $7.87.

MEI Pharma (NASDAQ:MEIP) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($1.37) earnings per share for the quarter, topping the consensus estimate of ($1.38) by $0.01. On average, analysts forecast that MEI Pharma will post 3.22 EPS for the current 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 bought a new stake in shares of MEI Pharma, Inc. (NASDAQ:MEIP) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 6,000 shares of the company’s stock, valued at approximately $36,000. National Bank of Canada FI owned about 0.09% of MEI Pharma as of its most recent filing with the SEC. 52.38% of the stock is currently owned by institutional investors.

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.