MEI Pharma (NASDAQ:MEIP) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report released on Friday. The firm issued a buy rating on the stock.

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

MEI Pharma Stock Performance

Shares of MEIP stock traded down $0.09 during midday trading on Friday, reaching $2.92. 33,863 shares of the company were exchanged, compared to its average volume of 50,931. The company’s 50 day moving average price is $2.92 and its two-hundred day moving average price is $3.02. The company has a market cap of $19.45 million, a P/E ratio of -0.42 and a beta of 0.83. MEI Pharma has a 12 month low of $2.61 and a 12 month high of $6.91.

MEI Pharma (NASDAQ:MEIP) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.20) earnings per share (EPS) for the quarter. As a group, sell-side analysts predict that MEI Pharma will post -5.1 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MEI Pharma stock. Corsair Capital Management L.P. purchased a new stake in MEI Pharma, Inc. (NASDAQ:MEIP) during the third quarter, according to its most recent filing with the SEC. The firm purchased 24,370 shares of the company’s stock, valued at approximately $69,000. Corsair Capital Management L.P. owned 0.37% of MEI Pharma at the end of the most recent reporting period. 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.