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

StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report sent to investors on Monday morning. The firm issued a buy rating on the stock.

MEI Pharma Price Performance

Shares of MEI Pharma stock opened at $2.84 on Monday. The firm has a market cap of $18.91 million, a price-to-earnings ratio of -0.41 and a beta of 0.79. The stock’s 50-day moving average is $2.68 and its 200-day moving average is $2.92. MEI Pharma has a one year low of $2.30 and a one year high of $4.97.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.20) earnings per share for the quarter. On average, equities analysts expect that MEI Pharma will post -5.1 EPS for the current year.

Institutional Investors Weigh In On MEI Pharma

An institutional investor recently bought a new position in MEI Pharma stock. World Investment Advisors LLC bought a new stake in MEI Pharma, Inc. (NASDAQ:MEIP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 25,000 shares of the company’s stock, valued at approximately $71,000. World Investment Advisors LLC owned about 0.38% of MEI Pharma at the end of the most recent quarter. Institutional investors own 52.38% of the company’s stock.

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.