StockNews.com Initiates 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 Tuesday. The firm set a “buy” rating on the stock.

MEIP has been the subject of a number of other reports. TheStreet downgraded MEI Pharma from a “c-” rating to a “d+” rating in a research note on Thursday, February 1st. Stifel Nicolaus reissued a “hold” rating and issued a $7.00 target price on shares of MEI Pharma in a report on Friday, April 12th.

MEI Pharma Price Performance

MEI Pharma stock opened at $3.18 on Tuesday. The business has a 50 day simple moving average of $3.62 and a 200-day simple moving average of $5.04. MEI Pharma has a 12 month low of $2.99 and a 12 month high of $7.97. The stock has a market capitalization of $21.19 million, a PE ratio of 1.07 and a beta of 0.82.

MEI Pharma (NASDAQ:MEIP) last released its earnings results on Tuesday, February 13th. The company reported ($1.66) EPS for the quarter, missing the consensus estimate of ($1.46) by ($0.20). MEI Pharma had a return on equity of 39.72% and a net margin of 39.06%. As a group, equities research analysts anticipate that MEI Pharma will post 3.24 EPS for the current year.

Hedge Funds Weigh In On MEI Pharma

A hedge fund recently bought a new stake in MEI Pharma stock. National Bank of Canada FI purchased a new stake in MEI Pharma, Inc. (NASDAQ:MEIP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,000 shares of the company’s stock, valued at approximately $36,000. National Bank of Canada FI owned approximately 0.09% of MEI Pharma as of its most recent SEC filing. 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.