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

Analysts at StockNews.com began coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report issued to clients and investors on Wednesday. The brokerage set a “buy” rating on the stock.

MEIP has been the topic of a number of other reports. Brookline Capital Management downgraded MEI Pharma from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 22nd. Laidlaw cut MEI Pharma from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.00.

MEI Pharma Stock Performance

MEIP opened at $3.15 on Wednesday. The business’s fifty day moving average is $3.16 and its two-hundred day moving average is $3.33. The company has a market cap of $20.99 million, a price-to-earnings ratio of 0.80 and a beta of 0.86. MEI Pharma has a one year low of $2.73 and a one year high of $7.87.

Hedge Funds Weigh In On MEI Pharma

A hedge fund recently raised its stake in MEI Pharma stock. National Bank of Canada FI raised its stake in MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,000 shares of the company’s stock after acquiring an additional 10,000 shares during the quarter. National Bank of Canada FI owned approximately 0.50% of MEI Pharma worth $94,000 at the end of the most recent quarter. 52.38% of the stock is currently 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.