MEI Pharma (NASDAQ:MEIP) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report sent to investors on Saturday. The firm issued a buy rating on the stock.

MEI Pharma Stock Up 0.4 %

MEIP stock opened at $2.32 on Friday. The company has a market cap of $15.46 million, a price-to-earnings ratio of -0.40 and a beta of 0.76. MEI Pharma has a twelve month low of $2.28 and a twelve month high of $4.15. The business has a 50 day moving average price of $2.66 and a two-hundred day moving average price of $2.77.

MEI Pharma (NASDAQ:MEIP) last released its earnings results on Wednesday, February 12th. The company reported ($0.48) earnings per share for the quarter. On average, equities research analysts anticipate that MEI Pharma will post -5.1 EPS for the current fiscal year.

Hedge Funds Weigh In On MEI Pharma

A number of institutional investors have recently bought and sold shares of MEIP. Corsair Capital Management L.P. bought a new position in shares of MEI Pharma during the 3rd quarter worth approximately $69,000. World Investment Advisors LLC acquired a new position in shares of MEI Pharma in the third quarter valued at $71,000. Northern Trust Corp raised its position in shares of MEI Pharma by 54.5% in the fourth quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock valued at $88,000 after purchasing an additional 12,561 shares during the period. Toronto Dominion Bank acquired a new stake in shares of MEI Pharma during the 4th quarter worth about $62,000. Finally, Virtu Financial LLC bought a new stake in shares of MEI Pharma during the 4th quarter worth about $26,000. Institutional investors and hedge funds own 52.38% of the company’s stock.

MEI Pharma Company Profile

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.