StockNews.com Begins Coverage on MEI Pharma (NASDAQ:MEIP)

StockNews.com started coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report sent to investors on Saturday morning. The brokerage issued a buy rating on the stock.

MEIP has been the topic of a number of other research reports. Stifel Nicolaus reaffirmed a hold rating and set a $7.00 price target on shares of MEI Pharma in a research note on Friday. TheStreet downgraded shares of MEI Pharma from a c- rating to a d+ rating in a research note on Thursday, February 1st.

MEI Pharma Stock Performance

MEIP stock opened at $3.25 on Friday. MEI Pharma has a one year low of $3.21 and a one year high of $7.97. The company’s fifty day moving average price is $4.06 and its 200-day moving average price is $5.46. The company has a market capitalization of $21.65 million, a PE ratio of 1.09 and a beta of 0.77.

MEI Pharma (NASDAQ:MEIP) last released its earnings results on Tuesday, February 13th. The company reported ($1.66) EPS for the quarter, missing the consensus estimate of ($1.46) by ($0.20). MEI Pharma had a return on equity of 39.72% and a net margin of 39.06%. On average, research analysts predict that MEI Pharma will post 3.24 EPS for the current fiscal year.

Institutional Investors Weigh In On MEI Pharma

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of MEI Pharma by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 389,807 shares of the company’s stock valued at $2,261,000 after acquiring an additional 6,260 shares during the period. Cable Car Capital LLC purchased a new stake in shares of MEI Pharma in the fourth quarter valued at $3,546,000. Bridgeway Capital Management LLC raised its stake in shares of MEI Pharma by 46.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 26,869 shares of the company’s stock valued at $156,000 after acquiring an additional 8,500 shares during the period. Northern Trust Corp raised its stake in shares of MEI Pharma by 134.9% in the fourth quarter. Northern Trust Corp now owns 24,780 shares of the company’s stock valued at $144,000 after acquiring an additional 14,230 shares during the period. Finally, National Bank of Canada FI purchased a new stake in shares of MEI Pharma in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 52.38% of the company’s stock.

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.