MEI Pharma (NASDAQ:MEIP) Research Coverage Started at StockNews.com

by · The Cerbat Gem

StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIP – Free Report) in a research report report published on Monday. The brokerage issued a buy rating on the stock.

MEI Pharma Price Performance

Shares of NASDAQ:MEIP opened at $2.15 on Monday. The company’s fifty day moving average price is $2.55 and its 200-day moving average price is $2.70. The firm has a market capitalization of $14.33 million, a price-to-earnings ratio of -0.38 and a beta of 0.76. MEI Pharma has a one year low of $2.15 and a one year high of $4.10.

MEI Pharma (NASDAQ:MEIP – Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported ($0.48) EPS for the quarter. As a group, equities research analysts expect that MEI Pharma will post -5.1 EPS for the current year.

Institutional Investors Weigh In On MEI Pharma

Institutional investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in MEI Pharma during the 4th quarter worth approximately $26,000. Toronto Dominion Bank bought a new stake in MEI Pharma in the fourth quarter valued at approximately $62,000. World Investment Advisors LLC purchased a new stake in shares of MEI Pharma during the third quarter valued at approximately $71,000. Finally, Northern Trust Corp grew its holdings 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 worth $88,000 after purchasing an additional 12,561 shares during the last quarter. Hedge funds and other institutional investors own 52.38% of the company’s stock.

About MEI Pharma

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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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