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

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

A number of other brokerages also recently issued reports on MEIP. Brookline Capital Management downgraded MEI Pharma from a “strong-buy” rating to a “hold” rating in a report on Monday, July 22nd. Laidlaw downgraded 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 given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.00.

MEI Pharma Stock Up 2.2 %

Shares of NASDAQ MEIP opened at $2.77 on Monday. The business has a fifty day simple moving average of $3.02 and a two-hundred day simple moving average of $3.10. The firm has a market cap of $18.46 million, a PE ratio of 0.71 and a beta of 0.85. MEI Pharma has a twelve month low of $2.61 and a twelve month high of $7.87.

MEI Pharma (NASDAQ:MEIP) last issued its earnings results on Thursday, September 19th. The company reported ($1.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.48) by $0.35. On average, research analysts expect that MEI Pharma will post -5.1 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in MEI Pharma stock. National Bank of Canada FI increased its holdings in shares of MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,000 shares of the company’s stock after buying an additional 10,000 shares during the quarter. National Bank of Canada FI owned 0.50% of MEI Pharma worth $94,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors 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.