StockNews.com Initiates Coverage on MEI Pharma (NASDAQ:MEIP)

Equities researchers at StockNews.com initiated coverage on shares of MEI Pharma (NASDAQ:MEIP) in a research note issued on Thursday. The brokerage set a “buy” rating on the stock.

A number of other research analysts also recently commented on MEIP. Stifel Nicolaus reiterated a “hold” rating and issued a $7.00 price objective on shares of MEI Pharma in a 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 Trading Down 1.1 %

Shares of NASDAQ:MEIP opened at $3.10 on Thursday. MEI Pharma has a 52 week low of $2.87 and a 52 week high of $7.87. The company’s 50 day moving average is $3.41 and its two-hundred day moving average is $4.72. The company has a market cap of $20.65 million, a PE ratio of 0.79 and a beta of 0.82.

Institutional Trading of MEI Pharma

A hedge fund recently bought a new stake in MEI Pharma stock. National Bank of Canada FI purchased a new position in shares of MEI Pharma, Inc. (NASDAQ:MEIP) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,000 shares of the company’s stock, valued at approximately $36,000. National Bank of Canada FI owned 0.09% of MEI Pharma as of its most recent SEC filing. Institutional investors and hedge funds own 52.38% of the company’s stock.

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.