Initiates Coverage on MEI Pharma (NASDAQ:MEIP) initiated coverage on shares of MEI Pharma (NASDAQ:MEIPFree Report) in a report published on Wednesday. The brokerage issued a buy rating on the stock.

Separately, Stifel Nicolaus reissued a hold rating and issued a $7.00 price target on shares of MEI Pharma in a research report on Friday, April 12th.

Check Out Our Latest Stock Analysis on MEI Pharma

MEI Pharma Trading Down 0.7 %

MEIP stock opened at $2.79 on Wednesday. MEI Pharma has a one year low of $2.73 and a one year high of $7.87. The firm has a market capitalization of $18.58 million, a PE ratio of 0.71 and a beta of 0.86. The firm has a 50-day moving average of $2.95 and a two-hundred day moving average of $3.88.

MEI Pharma (NASDAQ:MEIPGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($1.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.01. On average, equities research analysts anticipate that MEI Pharma will post 3.22 earnings per share for the current year.

Hedge Funds Weigh In On MEI Pharma

A hedge fund recently bought a new stake in MEI Pharma stock. Cable Car Capital LLC acquired a new position in MEI Pharma, Inc. (NASDAQ:MEIPFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 611,440 shares of the company’s stock, valued at approximately $3,546,000. MEI Pharma comprises approximately 3.9% of Cable Car Capital LLC’s holdings, making the stock its 10th largest position. Cable Car Capital LLC owned 9.18% of MEI Pharma at the end of the most recent reporting period. 52.38% of the stock is owned by institutional investors and hedge funds.

About MEI Pharma

(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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