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

StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report published on Monday. The brokerage issued a buy rating on the stock.

MEIP has been the topic of several other research reports. Stifel Nicolaus reissued a hold rating and issued a $7.00 target price on shares of MEI Pharma in a research note on Friday, April 12th. TheStreet cut shares of MEI Pharma from a c- rating to a d+ rating in a report on Thursday, February 1st.

MEI Pharma Trading Up 1.0 %

Shares of MEIP opened at $3.08 on Monday. MEI Pharma has a twelve month low of $3.02 and a twelve month high of $7.97. The company has a market cap of $20.51 million, a P/E ratio of 1.04 and a beta of 0.77. The company’s fifty day simple moving average is $3.78 and its 200-day simple moving average is $5.21.

MEI Pharma (NASDAQ:MEIP) last announced its earnings results 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%. Analysts predict that MEI Pharma will post 3.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MEI Pharma stock. National Bank of Canada FI purchased a new position in MEI Pharma, Inc. (NASDAQ:MEIP) during the fourth quarter, according to its most recent 13F filing 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 about 0.09% of MEI Pharma at the end of the most recent quarter. 52.38% of the stock is currently owned by institutional investors and hedge funds.

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.