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

StockNews.com started coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report issued to clients and investors on Wednesday. The brokerage set a “buy” rating on the stock.

MEI Pharma Stock Down 0.7 %

MEI Pharma stock opened at $2.66 on Wednesday. The firm has a fifty day moving average of $2.67 and a 200-day moving average of $2.87. MEI Pharma has a 52-week low of $2.30 and a 52-week high of $4.67. The firm has a market capitalization of $17.72 million, a P/E ratio of -0.46 and a beta of 0.79.

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

Institutional Trading of MEI Pharma

Several hedge funds have recently made changes to their positions in the stock. Corsair Capital Management L.P. bought a new position in MEI Pharma in the 3rd quarter worth approximately $69,000. World Investment Advisors LLC acquired a new position in MEI Pharma during the 3rd quarter worth $71,000. Northern Trust Corp grew its stake in shares of MEI Pharma by 54.5% in the fourth quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock worth $88,000 after purchasing an additional 12,561 shares in the last quarter. Toronto Dominion Bank acquired a new position in shares of MEI Pharma during the fourth quarter valued at $62,000. Finally, Virtu Financial LLC acquired a new position in shares of MEI Pharma during the fourth quarter valued at $26,000. 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.