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

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

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

MEI Pharma Price Performance

Shares of MEI Pharma stock opened at $3.25 on Friday. MEI Pharma has a 12-month low of $3.20 and a 12-month high of $7.97. The firm has a market capitalization of $21.65 million, a PE ratio of 1.09 and a beta of 0.77. The stock’s fifty day moving average is $3.95 and its 200-day moving average is $5.37.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in MEI Pharma by 4.4% in the third quarter. Vanguard Group Inc. now owns 7,668,708 shares of the company’s stock valued at $2,965,000 after purchasing an additional 322,969 shares in the last quarter. BlackRock Inc. grew its stake in MEI Pharma by 2.7% in the first quarter. BlackRock Inc. now owns 6,867,423 shares of the company’s stock valued at $4,138,000 after purchasing an additional 177,552 shares in the last quarter. Renaissance Technologies LLC grew its stake in MEI Pharma by 5.3% in the first quarter. Renaissance Technologies LLC now owns 2,804,357 shares of the company’s stock valued at $642,000 after purchasing an additional 140,000 shares in the last quarter. State Street Corp grew its stake in MEI Pharma by 3.3% in the first quarter. State Street Corp now owns 1,949,006 shares of the company’s stock valued at $1,174,000 after purchasing an additional 61,832 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in MEI Pharma in the second quarter valued at about $829,000. 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.