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

StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIPFree Report) in a research note issued to investors on Monday morning. The brokerage issued a buy rating on the stock.

Separately, Stifel Nicolaus reaffirmed a hold rating and set a $7.00 target price on shares of MEI Pharma in a research note on Friday, April 12th.

Read Our Latest Analysis on MEIP

MEI Pharma Price Performance

Shares of NASDAQ MEIP opened at $2.86 on Monday. The business’s 50 day moving average is $3.02 and its two-hundred day moving average is $4.12. MEI Pharma has a 1-year low of $2.73 and a 1-year high of $7.87. The stock has a market capitalization of $19.05 million, a P/E ratio of 0.73 and a beta of 0.80.

MEI Pharma (NASDAQ:MEIPGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($1.37) earnings per share for the quarter, topping the consensus estimate of ($1.38) by $0.01. MEI Pharma had a return on equity of 48.32% and a net margin of 39.06%. As a group, equities research analysts anticipate that MEI Pharma will post 3.22 earnings per share for the current fiscal year.

Institutional Trading of MEI Pharma

An institutional investor recently bought a new position in MEI Pharma stock. National Bank of Canada FI purchased a new stake in MEI Pharma, Inc. (NASDAQ:MEIPFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,000 shares of the company’s stock, valued at approximately $36,000. National Bank of Canada FI owned 0.09% of MEI Pharma as of its most recent filing with the Securities and Exchange Commission (SEC). 52.38% of the stock is currently owned by institutional investors and hedge funds.

MEI Pharma Company Profile

(Get Free Report)

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.

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