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

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

MEIP has been the subject of several other research reports. Laidlaw lowered 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 report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $7.00.

MEI Pharma Trading Down 1.8 %

MEIP stock opened at $2.80 on Friday. The firm’s 50-day moving average is $3.20 and its two-hundred day moving average is $3.19. The company has a market capitalization of $18.66 million, a price-to-earnings ratio of 0.73 and a beta of 0.86. MEI Pharma has a 52 week low of $2.73 and a 52 week high of $7.87.

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

Hedge Funds Weigh In On MEI Pharma

An institutional investor recently raised its position in MEI Pharma stock. National Bank of Canada FI grew its position in shares of MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% in the 2nd quarter, according to the company in its most recent 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 approximately 0.50% of MEI Pharma worth $94,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 52.38% of the stock is currently owned by institutional investors.

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.