MEI Pharma (NASDAQ:MEIP) Coverage Initiated at StockNews.com

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

Separately, Stifel Nicolaus restated a hold rating and issued a $7.00 price objective on shares of MEI Pharma in a report on Friday, April 12th.

MEI Pharma Stock Up 3.1 %

Shares of NASDAQ MEIP opened at $2.95 on Monday. MEI Pharma has a twelve month low of $2.73 and a twelve month high of $7.87. The firm has a market cap of $19.65 million, a P/E ratio of 0.75 and a beta of 0.80. The company has a 50 day moving average of $3.01 and a 200 day moving average of $4.11.

MEI Pharma (NASDAQ:MEIP) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($1.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.01. MEI Pharma had a net margin of 39.06% and a return on equity of 48.32%. As a group, equities analysts expect that MEI Pharma will post 3.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MEI Pharma

A hedge fund recently bought a new stake in MEI Pharma stock. National Bank of Canada FI purchased a new position in MEI Pharma, Inc. (NASDAQ:MEIP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,000 shares of the company’s stock, valued at approximately $36,000. National Bank of Canada FI owned approximately 0.09% of MEI Pharma as of its most recent SEC filing. 52.38% of the stock is owned by hedge funds and other institutional investors.

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.