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 released on Tuesday morning. The brokerage issued a buy rating on the stock.

MEI Pharma Price Performance

Shares of NASDAQ:MEIP opened at $2.72 on Tuesday. MEI Pharma has a fifty-two week low of $2.30 and a fifty-two week high of $4.82. The business has a 50-day moving average of $2.68 and a two-hundred day moving average of $2.90. The stock has a market capitalization of $18.12 million, a P/E ratio of -0.39 and a beta of 0.79.

MEI Pharma (NASDAQ:MEIP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.48) earnings per share for the quarter. As a group, research analysts expect that MEI Pharma will post -5.1 EPS for the current fiscal year.

Hedge Funds Weigh In On MEI Pharma

Several large investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in shares of MEI Pharma during the 4th quarter worth about $26,000. Corsair Capital Management L.P. acquired a new position in shares of MEI Pharma during the 3rd quarter worth about $69,000. Finally, World Investment Advisors LLC acquired a new position in shares of MEI Pharma during the 3rd quarter worth about $71,000. 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.