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

by · The Cerbat Gem

StockNews.com began coverage on shares of MEI Pharma (NASDAQ:MEIP – Free Report) in a report published on Sunday morning. The firm issued a buy rating on the stock.

Several other research firms have also recently weighed in on MEIP. Brookline Capital Management cut MEI Pharma from a strong-buy rating to a hold rating in a research report on Monday, July 22nd. Laidlaw cut MEI Pharma from a buy rating to a hold rating in a research report on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, MEI Pharma presently has a consensus rating of Hold and a consensus price target of $7.00.

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MEI Pharma Stock Down 2.2 %

Shares of MEIP stock opened at $2.71 on Friday. MEI Pharma has a 12 month low of $2.71 and a 12 month high of $7.87. The business’s 50 day moving average is $3.13 and its two-hundred day moving average is $3.15. The company has a market cap of $18.06 million, a PE ratio of 0.69 and a beta of 0.85.

MEI Pharma (NASDAQ:MEIP – Get Free Report) last announced its quarterly earnings results on Thursday, September 19th. The company reported ($1.13) EPS for the quarter, beating the consensus estimate of ($1.48) by $0.35. As a group, equities analysts expect that MEI Pharma will post -5.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MEI Pharma stock. Cable Car Capital LLC bought a new stake in MEI Pharma, Inc. (NASDAQ:MEIP – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 611,440 shares of the company’s stock, valued at approximately $3,546,000. MEI Pharma makes up approximately 3.9% of Cable Car Capital LLC’s holdings, making the stock its 10th biggest holding. Cable Car Capital LLC owned approximately 9.18% of MEI Pharma at the end of the most recent reporting period. Hedge funds and other institutional investors own 52.38% of the company’s stock.

About MEI Pharma

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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.

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