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

StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report published on Thursday morning. The firm issued a buy rating on the stock.

A number of other equities research analysts also recently weighed in on MEIP. Laidlaw downgraded MEI Pharma from a buy rating to a hold rating in a research report on Tuesday, July 23rd. Brookline Capital Management lowered MEI Pharma from a strong-buy rating to a hold rating in a research note on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $7.00.

MEI Pharma Trading Down 1.0 %

Shares of MEI Pharma stock opened at $3.03 on Thursday. The firm has a market cap of $20.18 million, a P/E ratio of 0.77 and a beta of 0.86. MEI Pharma has a 12 month low of $2.73 and a 12 month high of $7.87. The stock’s fifty day moving average price is $3.18 and its 200-day moving average price is $3.26.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MEI Pharma stock. National Bank of Canada FI acquired a new position in shares of MEI Pharma, Inc. (NASDAQ:MEIP) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 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 SEC filing. 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.