MEI Pharma (NASDAQ:MEIP) Earns Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research note published on Monday morning. The brokerage issued a buy rating on the stock.

Other equities analysts have also issued reports about the company. Laidlaw lowered MEI Pharma from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Brookline Capital Management downgraded MEI Pharma from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.00.

MEI Pharma Trading Up 2.2 %

Shares of MEI Pharma stock opened at $2.77 on Monday. The stock has a 50 day moving average of $3.02 and a 200 day moving average of $3.10. MEI Pharma has a 12 month low of $2.61 and a 12 month high of $7.87. The firm has a market cap of $18.46 million, a PE ratio of 0.71 and a beta of 0.85.

MEI Pharma (NASDAQ:MEIP) last announced its quarterly earnings results on Thursday, September 19th. The company reported ($1.13) EPS for the quarter, beating analysts’ consensus estimates of ($1.48) by $0.35. As a group, equities research analysts forecast that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MEI Pharma

An institutional investor recently raised its position in MEI Pharma stock. National Bank of Canada FI lifted its holdings in MEI Pharma, Inc. (NASDAQ:MEIP) by 43.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,000 shares of the company’s stock after buying an additional 10,000 shares during the quarter. National Bank of Canada FI owned approximately 0.50% of MEI Pharma worth $94,000 at the end of the most recent quarter. 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.