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

Stock analysts at StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research note issued to investors on Friday. The firm set a “buy” rating on the stock.

Several other equities research analysts also recently weighed in on MEIP. Brookline Capital Management downgraded shares of MEI Pharma from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 22nd. Laidlaw lowered shares of MEI Pharma from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $7.00.

MEI Pharma Stock Down 3.0 %

MEIP opened at $2.92 on Friday. MEI Pharma has a 52 week low of $2.61 and a 52 week high of $6.91. The business’s 50 day moving average is $2.92 and its two-hundred day moving average is $3.02. The firm has a market cap of $19.45 million, a price-to-earnings ratio of -0.42 and a beta of 0.83.

MEI Pharma (NASDAQ:MEIP) last announced its earnings results on Tuesday, November 12th. The company reported ($1.20) earnings per share (EPS) for the quarter. Equities analysts expect that MEI Pharma will post -5.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MEI Pharma stock. Corsair Capital Management L.P. bought a new stake in MEI Pharma, Inc. (NASDAQ:MEIP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,370 shares of the company’s stock, valued at approximately $69,000. Corsair Capital Management L.P. owned about 0.37% of MEI Pharma as of its most recent filing with the Securities & Exchange Commission. 52.38% of the stock is owned by institutional investors and hedge funds.

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.