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

StockNews.com began coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research report sent to investors on Saturday morning. The firm issued a buy rating on the stock.

A number of other equities research analysts have also weighed in on MEIP. Stifel Nicolaus restated a hold rating and set a $7.00 price objective on shares of MEI Pharma in a research note on Friday, April 12th. TheStreet lowered MEI Pharma from a c- rating to a d+ rating in a research note on Thursday, February 1st.

MEI Pharma Stock Performance

Shares of NASDAQ:MEIP opened at $3.19 on Friday. The company has a market cap of $21.21 million, a P/E ratio of 1.07 and a beta of 0.77. MEI Pharma has a one year low of $3.20 and a one year high of $7.97. The business’s 50-day simple moving average is $4.03 and its 200 day simple moving average is $5.44.

MEI Pharma (NASDAQ:MEIP) last announced its earnings results on Tuesday, February 13th. The company reported ($1.66) EPS for the quarter, missing the consensus estimate of ($1.46) by ($0.20). MEI Pharma had a net margin of 39.06% and a return on equity of 39.72%. Analysts predict that MEI Pharma will post 3.24 earnings per share for the current year.

Institutional Investors Weigh In On MEI Pharma

A number of hedge funds have recently bought and sold shares of the business. Jane Street Group LLC acquired a new position in shares of MEI Pharma in the 1st quarter worth approximately $31,000. UBS Group AG grew its position in shares of MEI Pharma by 115.0% in the 4th quarter. UBS Group AG now owns 132,684 shares of the company’s stock worth $32,000 after acquiring an additional 70,959 shares in the last quarter. National Bank of Canada FI acquired a new position in shares of MEI Pharma in the 4th quarter worth approximately $36,000. BNP Paribas Arbitrage SA grew its position in shares of MEI Pharma by 483.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 62,963 shares of the company’s stock worth $38,000 after acquiring an additional 52,169 shares in the last quarter. Finally, Morgan Stanley grew its position in shares of MEI Pharma by 61.0% in the 4th quarter. Morgan Stanley now owns 184,933 shares of the company’s stock worth $45,000 after acquiring an additional 70,083 shares in the last quarter. Institutional investors and hedge funds own 52.38% of the company’s stock.

About MEI Pharma

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.