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

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

MEI Pharma Trading Down 1.2 %

NASDAQ:MEIP opened at $2.56 on Thursday. MEI Pharma has a 12 month low of $2.30 and a 12 month high of $4.33. The stock has a 50 day moving average of $2.68 and a two-hundred day moving average of $2.83. The firm has a market cap of $17.06 million, a P/E ratio of -0.45 and a beta of 0.79.

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

Institutional Investors Weigh In On MEI Pharma

Large investors have recently made changes to their positions in the stock. Corsair Capital Management L.P. purchased a new stake in shares of MEI Pharma in the third quarter valued at approximately $69,000. World Investment Advisors LLC purchased a new stake in shares of MEI Pharma in the third quarter valued at approximately $71,000. Northern Trust Corp grew its position in shares of MEI Pharma by 54.5% in 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 in the last quarter. Toronto Dominion Bank purchased a new stake in shares of MEI Pharma in the fourth quarter valued at approximately $62,000. Finally, Virtu Financial LLC purchased a new stake in shares of MEI Pharma in the fourth quarter valued at approximately $26,000. 52.38% of the stock is currently owned by hedge funds and other institutional investors.

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.