StockNews.com Begins Coverage on MEI Pharma (NASDAQ:MEIP)

StockNews.com started coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research note released on Thursday morning. The brokerage issued a buy rating on the stock.

MEI Pharma Price Performance

Shares of MEI Pharma stock opened at $2.59 on Thursday. The firm has a fifty day moving average price of $2.68 and a 200 day moving average price of $2.84. MEI Pharma has a 1 year low of $2.30 and a 1 year high of $4.33. The stock has a market cap of $17.26 million, a PE ratio of -0.45 and a beta of 0.79.

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

Institutional Trading of MEI Pharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in MEI Pharma during the fourth quarter valued at $26,000. Corsair Capital Management L.P. acquired a new stake in MEI Pharma during the third quarter valued at $69,000. Toronto Dominion Bank acquired a new stake in MEI Pharma during the fourth quarter valued at $62,000. World Investment Advisors LLC acquired a new stake in shares of MEI Pharma in the third quarter valued at about $71,000. Finally, Northern Trust Corp grew its position in shares of MEI Pharma by 54.5% in the fourth quarter. Northern Trust Corp now owns 35,596 shares of the company’s stock valued at $88,000 after purchasing an additional 12,561 shares during the period. 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.