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

Investment analysts at StockNews.com began coverage on shares of MEI Pharma (NASDAQ:MEIP) in a note issued to investors on Sunday. The brokerage set a “buy” rating on the stock.

MEI Pharma Stock Up 2.2 %

NASDAQ:MEIP opened at $2.35 on Friday. The firm has a market capitalization of $15.66 million, a PE ratio of -0.41 and a beta of 0.76. MEI Pharma has a 12-month low of $2.28 and a 12-month high of $4.15. The firm has a 50-day moving average price of $2.63 and a 200 day moving average price of $2.74.

MEI Pharma (NASDAQ:MEIP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.48) earnings per share (EPS) for the quarter. On average, research analysts expect that MEI Pharma will post -5.1 EPS for the current year.

Hedge Funds Weigh In On MEI Pharma

Institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank bought a new position in shares of MEI Pharma in the fourth quarter worth about $62,000. Northern Trust Corp grew its holdings in MEI Pharma by 54.5% during the 4th quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock worth $88,000 after acquiring an additional 12,561 shares during the period. Virtu Financial LLC acquired a new stake in shares of MEI Pharma during the fourth quarter worth $26,000. World Investment Advisors LLC bought a new stake in MEI Pharma in the third quarter valued at about $71,000. Finally, Corsair Capital Management L.P. acquired a new stake in shares of MEI Pharma in the 3rd quarter valued at approximately $69,000. 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.