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 research report released on Friday morning. The brokerage issued a buy rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Brookline Capital Management cut shares of MEI Pharma from a strong-buy rating to a hold rating in a report on Monday, July 22nd. Stifel Nicolaus restated a hold rating and issued a $7.00 target price on shares of MEI Pharma in a research note on Friday, April 12th. Finally, Laidlaw downgraded MEI Pharma from a buy rating to a hold rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $7.00.

MEI Pharma Price Performance

Shares of MEI Pharma stock opened at $3.56 on Friday. The firm has a market cap of $23.71 million, a price-to-earnings ratio of 0.91 and a beta of 0.86. The stock’s 50-day moving average is $2.95 and its 200 day moving average is $3.65. MEI Pharma has a one year low of $2.73 and a one year high of $7.87.

MEI Pharma (NASDAQ:MEIP) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($1.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.01. On average, sell-side analysts expect that MEI Pharma will post 3.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MEI Pharma stock. National Bank of Canada FI bought a new position in MEI Pharma, Inc. (NASDAQ:MEIP) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 6,000 shares of the company’s stock, valued at approximately $36,000. National Bank of Canada FI owned about 0.09% of MEI Pharma at the end of the most recent reporting period. 52.38% of the stock is currently 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.