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

Research analysts at StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report issued on Saturday. The brokerage set a “buy” rating on the stock.

MEI Pharma Stock Down 1.4%

NASDAQ:MEIP opened at $2.05 on Friday. The company has a fifty day moving average of $2.13 and a 200-day moving average of $2.53. The firm has a market capitalization of $13.65 million, a P/E ratio of -0.36 and a beta of 0.21. MEI Pharma has a twelve month low of $1.46 and a twelve month high of $4.10.

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

Institutional Trading of MEI Pharma

Several large investors have recently made changes to their positions in MEIP. Virtu Financial LLC bought a new position in MEI Pharma in the fourth quarter worth approximately $26,000. Northern Trust Corp increased its holdings in shares of 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 acquiring an additional 12,561 shares in the last quarter. Finally, Toronto Dominion Bank bought a new stake in shares of MEI Pharma during the fourth quarter valued at approximately $62,000. 52.38% of the stock is currently owned by institutional investors and hedge funds.

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.