MEI Pharma (NASDAQ:MEIP) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research note issued on Tuesday. The brokerage set a “buy” rating on the stock.

Separately, Stifel Nicolaus reissued a “hold” rating and set a $7.00 target price on shares of MEI Pharma in a research note on Friday, April 12th.

MEI Pharma Stock Performance

MEIP opened at $2.82 on Tuesday. MEI Pharma has a 52-week low of $2.73 and a 52-week high of $7.87. The stock has a market capitalization of $18.78 million, a PE ratio of 0.72 and a beta of 0.86. The stock’s 50 day moving average price is $2.97 and its 200-day moving average price is $3.99.

MEI Pharma (NASDAQ:MEIP) last posted its earnings results on Thursday, May 9th. The company reported ($1.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.38) by $0.01. Research analysts forecast that MEI Pharma will post 3.22 EPS for the current fiscal year.

Institutional Investors Weigh In On MEI Pharma

A hedge fund recently bought a new stake in MEI Pharma stock. Cable Car Capital LLC bought a new position in MEI Pharma, Inc. (NASDAQ:MEIP) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 611,440 shares of the company’s stock, valued at approximately $3,546,000. MEI Pharma makes up approximately 3.9% of Cable Car Capital LLC’s portfolio, making the stock its 10th biggest holding. Cable Car Capital LLC owned 9.18% of MEI Pharma at the end of the most recent quarter. Hedge funds and other institutional investors own 52.38% of the company’s stock.

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.