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

Research analysts at StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report issued on Sunday. The firm set a “buy” rating on the stock.

MEI Pharma Stock Performance

Shares of MEIP opened at $2.82 on Friday. MEI Pharma has a fifty-two week low of $2.30 and a fifty-two week high of $4.97. The business has a 50-day moving average of $2.68 and a 200 day moving average of $2.93. The firm has a market cap of $18.78 million, a P/E ratio of -0.40 and a beta of 0.78.

MEI Pharma (NASDAQ:MEIP) last posted its earnings results on Tuesday, November 12th. The company reported ($1.20) earnings per share for the quarter. As a group, research analysts predict that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MEI Pharma

A hedge fund recently bought a new stake in MEI Pharma stock. World Investment Advisors LLC purchased a new stake in MEI Pharma, Inc. (NASDAQ:MEIP) in the 3rd quarter, according to its most recent 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 as of its most recent filing with the Securities & Exchange Commission. 52.38% of the stock is owned by institutional investors and hedge funds.

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.