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

StockNews.com assumed coverage on shares of MEI Pharma (NASDAQ:MEIP) in a note issued to investors on Monday. The firm set a “buy” rating on the stock.

A number of other equities analysts have also recently issued reports on MEIP. Stifel Nicolaus reiterated a “hold” rating and issued a $7.00 price target 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 report on Thursday, February 1st.

MEI Pharma Stock Performance

MEIP stock opened at $3.05 on Monday. The company has a market capitalization of $20.31 million, a PE ratio of 1.03 and a beta of 0.77. MEI Pharma has a one year low of $3.02 and a one year high of $7.97. The company’s 50 day moving average price is $3.76 and its two-hundred day moving average price is $5.18.

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%. On average, research analysts predict that MEI Pharma will post 3.24 EPS 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 purchased a new stake in shares of MEI Pharma, Inc. (NASDAQ:MEIP) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 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 investment portfolio, making the stock its 10th biggest holding. Cable Car Capital LLC owned approximately 9.18% of MEI Pharma as of its most recent filing with the SEC. 52.38% of the stock is owned by hedge funds and other institutional investors.

MEI Pharma Company Profile

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.