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

Research analysts at StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report issued on Friday. The firm set a “buy” rating on the stock.

A number of other 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. Laidlaw cut shares of MEI Pharma from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, MEI Pharma presently has an average rating of “Hold” and a consensus price target of $7.00.

MEI Pharma Trading Down 5.1 %

MEIP stock opened at $2.98 on Friday. The stock has a market capitalization of $19.86 million, a P/E ratio of 0.76 and a beta of 0.86. MEI Pharma has a 12 month low of $2.73 and a 12 month high of $7.87. The firm has a 50-day moving average price of $3.21 and a 200-day moving average price of $3.23.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MEI Pharma stock. Cable Car Capital LLC acquired a new stake in MEI Pharma, Inc. (NASDAQ:MEIP) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 611,440 shares of the company’s stock, valued at approximately $3,546,000. MEI Pharma accounts for about 3.9% of Cable Car Capital LLC’s holdings, making the stock its 10th biggest holding. Cable Car Capital LLC owned 9.18% of MEI Pharma as of its most recent filing with the Securities & Exchange Commission. 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.