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

StockNews.com began coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report issued on Friday. The brokerage issued a buy rating on the stock.

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

MEI Pharma Stock Down 3.0 %

NASDAQ:MEIP opened at $2.92 on Friday. MEI Pharma has a 52 week low of $2.61 and a 52 week high of $6.91. The stock’s 50-day moving average price is $2.92 and its 200-day moving average price is $3.02. The stock has a market capitalization of $19.46 million, a PE ratio of -0.42 and a beta of 0.83.

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

Hedge Funds Weigh In On MEI Pharma

An institutional investor recently bought a new position in MEI Pharma stock. Corsair Capital Management L.P. acquired a new stake in shares of MEI Pharma, Inc. (NASDAQ:MEIP) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 24,370 shares of the company’s stock, valued at approximately $69,000. Corsair Capital Management L.P. owned about 0.37% of MEI Pharma at the end of the most recent reporting period. 52.38% of the stock is currently owned by institutional investors and hedge funds.

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.