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 note published on Friday morning. The firm issued a buy rating on the stock.

MEI Pharma Stock Performance

MEI Pharma stock opened at $2.40 on Friday. The firm has a market cap of $15.99 million, a PE ratio of -0.42 and a beta of 0.76. The firm’s 50 day moving average price is $2.68 and its two-hundred day moving average price is $2.80. MEI Pharma has a twelve month low of $2.30 and a twelve month high of $4.24.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.48) earnings per share for the quarter. Equities analysts anticipate that MEI Pharma will post -5.1 EPS for the current fiscal year.

Institutional Trading of MEI Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of MEIP. Corsair Capital Management L.P. acquired a new stake in shares of MEI Pharma during the 3rd quarter valued at about $69,000. World Investment Advisors LLC bought a new position in MEI Pharma during the 3rd quarter valued at about $71,000. Northern Trust Corp lifted its holdings in MEI Pharma by 54.5% during the 4th quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock valued at $88,000 after purchasing an additional 12,561 shares during the last quarter. Toronto Dominion Bank bought a new position in MEI Pharma during the 4th quarter valued at about $62,000. Finally, Virtu Financial LLC bought a new position in MEI Pharma during the 4th quarter valued at about $26,000. 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.