MEI Pharma (NASDAQ:MEIP) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research note released on Sunday morning. The firm issued a buy rating on the stock.

MEI Pharma Stock Performance

Shares of NASDAQ MEIP opened at $2.08 on Friday. The company has a market capitalization of $13.85 million, a P/E ratio of -0.36 and a beta of 0.21. MEI Pharma has a 52-week low of $1.46 and a 52-week high of $4.10. The company’s 50 day moving average price is $2.10 and its 200-day moving average price is $2.50.

MEI Pharma (NASDAQ:MEIP) last released its earnings results on Tuesday, May 13th. The company reported ($0.39) earnings per share (EPS) for the quarter. Analysts forecast that MEI Pharma will post -5.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Northern Trust Corp lifted its position in shares of MEI Pharma by 54.5% during the 4th quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock valued at $88,000 after acquiring an additional 12,561 shares during the period. Toronto Dominion Bank acquired a new position in shares of MEI Pharma during the 4th quarter valued at $62,000. Finally, Virtu Financial LLC acquired a new position in shares of MEI Pharma during the 4th quarter valued at $26,000. Institutional investors and hedge funds 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.