MEI Pharma (NASDAQ:MEIP) Now Covered by StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIP) in a note issued to investors on Wednesday. The firm set a “buy” rating on the stock.

Several other brokerages also recently weighed in on MEIP. Laidlaw downgraded 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 note on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, MEI Pharma presently has a consensus rating of “Hold” and an average target price of $7.00.

MEI Pharma Trading Up 1.6 %

Shares of MEIP stock opened at $3.15 on Wednesday. The business’s 50 day moving average is $3.16 and its two-hundred day moving average is $3.33. MEI Pharma has a twelve month low of $2.73 and a twelve month high of $7.87. The company has a market capitalization of $20.99 million, a P/E ratio of 0.80 and a beta of 0.86.

Institutional Trading of MEI Pharma

A hedge fund recently bought a new stake in MEI Pharma stock. National Bank of Canada FI bought a new position in shares of MEI Pharma, Inc. (NASDAQ:MEIP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,000 shares of the company’s stock, valued at approximately $36,000. National Bank of Canada FI owned approximately 0.09% of MEI Pharma as of its most recent filing with the Securities and Exchange Commission (SEC). 52.38% of the stock is currently owned by institutional investors.

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.