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

Analysts at StockNews.com began coverage on shares of MEI Pharma (NASDAQ:MEIP) in a report issued on Tuesday. The brokerage set a “buy” rating on the stock.

Other equities analysts have also issued research reports about the company. TheStreet lowered MEI Pharma from a “c-” rating to a “d+” rating in a research note on Thursday, February 1st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $7.00 target price on shares of MEI Pharma in a research report on Friday, April 12th.

MEI Pharma Trading Up 4.6 %

MEI Pharma stock opened at $3.20 on Tuesday. The company has a 50-day moving average price of $3.66 and a 200 day moving average price of $5.08. MEI Pharma has a 12-month low of $3.01 and a 12-month high of $7.97. The stock has a market cap of $21.31 million, a P/E ratio of 1.08 and a beta of 0.82.

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

Institutional Trading of MEI Pharma

An institutional investor recently bought a new position in MEI Pharma stock. Cable Car Capital LLC acquired a new stake in MEI Pharma, Inc. (NASDAQ:MEIP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 611,440 shares of the company’s stock, valued at approximately $3,546,000. MEI Pharma accounts for 3.9% of Cable Car Capital LLC’s holdings, making the stock its 10th biggest holding. Cable Car Capital LLC owned approximately 9.18% of MEI Pharma at the end of the most recent reporting period. 52.38% of the stock is owned by hedge funds and other institutional investors.

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.