MEI Pharma (NASDAQ:MEIP) Now Covered by Analysts at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report issued on Friday. The brokerage set a “buy” rating on the stock.

MEIP has been the subject of a number of other research 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 downgraded shares of MEI Pharma from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.00.

MEI Pharma Stock Performance

NASDAQ:MEIP opened at $2.98 on Friday. The company has a market capitalization of $19.86 million, a PE ratio of 0.76 and a beta of 0.86. The company has a 50 day simple moving average of $3.21 and a two-hundred day simple moving average of $3.23. MEI Pharma has a fifty-two week low of $2.73 and a fifty-two week high of $7.87.

Institutional Trading of MEI Pharma

A hedge fund recently raised its stake in MEI Pharma stock. National Bank of Canada FI lifted its stake 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 & Exchange Commission. The firm 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 about 0.50% of MEI Pharma worth $94,000 as of its most recent filing with the Securities & Exchange Commission. 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.