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

Equities research analysts at StockNews.com started coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research note issued to investors on Sunday. The brokerage set a “buy” rating on the stock.

A number of other research firms also recently weighed in on MEIP. Stifel Nicolaus reiterated a “hold” rating and issued a $7.00 price target on shares of MEI Pharma in a research report on Friday, April 12th. TheStreet downgraded shares of MEI Pharma from a “c-” rating to a “d+” rating in a research report on Thursday, February 1st.

MEI Pharma Stock Up 3.7 %

MEI Pharma stock opened at $3.37 on Friday. The stock has a market cap of $22.44 million, a P/E ratio of 1.13 and a beta of 0.77. MEI Pharma has a twelve month low of $3.20 and a twelve month high of $7.97. The company’s 50-day moving average price is $3.92 and its two-hundred day moving average price is $5.34.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings results on Tuesday, February 13th. The company reported ($1.66) earnings per share 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%. Equities analysts anticipate that MEI Pharma will post 3.24 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 bought a new position in shares of MEI Pharma, Inc. (NASDAQ:MEIP) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 611,440 shares of the company’s stock, valued at approximately $3,546,000. MEI Pharma comprises about 3.9% of Cable Car Capital LLC’s holdings, making the stock its 10th biggest position. Cable Car Capital LLC owned approximately 9.18% of MEI Pharma as of its most recent SEC filing. Hedge funds and other institutional investors 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.