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

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

MEI Pharma Price Performance

Shares of MEIP stock opened at $2.33 on Friday. The firm has a 50-day moving average of $2.67 and a 200-day moving average of $2.77. The company has a market cap of $15.53 million, a P/E ratio of -0.41 and a beta of 0.76. MEI Pharma has a one year low of $2.30 and a one year high of $4.15.

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

Hedge Funds Weigh In On MEI Pharma

Several large investors have recently modified their holdings of MEIP. Virtu Financial LLC bought a new position in shares of MEI Pharma in the fourth quarter valued at approximately $26,000. Toronto Dominion Bank bought a new stake in MEI Pharma during the fourth quarter valued at approximately $62,000. Corsair Capital Management L.P. bought a new stake in MEI Pharma during the third quarter valued at approximately $69,000. World Investment Advisors LLC bought a new stake in MEI Pharma during the third quarter valued at approximately $71,000. Finally, Northern Trust Corp lifted its position in MEI Pharma by 54.5% during the fourth quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock valued at $88,000 after purchasing an additional 12,561 shares during the last quarter. Hedge funds and other 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.