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

by · The Markets Daily

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

A number of other equities research analysts have also recently issued reports on MEIP. Laidlaw cut MEI Pharma from a buy rating to a hold rating in a research note on Tuesday, July 23rd. Brookline Capital Management cut 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $7.00.

Get Our Latest Stock Analysis on MEI Pharma

MEI Pharma Trading Down 1.1 %

Shares of NASDAQ:MEIP opened at $2.68 on Friday. The stock has a market cap of $17.86 million, a PE ratio of 0.67 and a beta of 0.85. MEI Pharma has a 1-year low of $2.61 and a 1-year high of $7.87. The stock’s fifty day simple moving average is $3.11 and its two-hundred day simple moving average is $3.15.

MEI Pharma (NASDAQ:MEIP – Get Free Report) last released its earnings results on Thursday, September 19th. The company reported ($1.13) EPS for the quarter, topping analysts’ consensus estimates of ($1.48) by $0.35. On average, sell-side analysts forecast that MEI Pharma will post -5.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MEI Pharma stock. Cable Car Capital LLC acquired a new position in shares of MEI Pharma, Inc. (NASDAQ:MEIP – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 611,440 shares of the company’s stock, valued at approximately $3,546,000. MEI Pharma makes up about 3.9% of Cable Car Capital LLC’s investment portfolio, making the stock its 10th biggest position. Cable Car Capital LLC owned 9.18% of MEI Pharma at the end of the most recent quarter. 52.38% of the stock is owned by institutional investors and hedge funds.

MEI Pharma Company Profile

(Get Free Report)

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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