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

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

MEI Pharma Stock Up 0.4 %

Shares of NASDAQ MEIP opened at $2.70 on Friday. MEI Pharma has a 12 month low of $2.30 and a 12 month high of $6.05. The company has a market cap of $17.99 million, a P/E ratio of -0.39 and a beta of 0.78. The business’s 50 day moving average is $2.73 and its two-hundred day moving average is $2.93.

MEI Pharma (NASDAQ:MEIP) last released its earnings results on Tuesday, November 12th. The company reported ($1.20) EPS for the quarter. Sell-side analysts expect that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. National Bank of Canada FI raised its stake in shares of MEI Pharma by 43.5% in the 2nd quarter. National Bank of Canada FI now owns 33,000 shares of the company’s stock valued at $94,000 after buying an additional 10,000 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of MEI Pharma during the 3rd quarter valued at about $71,000. Finally, Corsair Capital Management L.P. acquired a new position in MEI Pharma in the third quarter worth about $69,000. 52.38% of the stock is 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.