Analysts at StockNews.com Initiate Coverage on MEI Pharma (NASDAQ:MEIP)

On December 2nd, 2024, StockNews.com announced the initiation of coverage on MEI Pharma (NASDAQ:MEIP) in a research note released on Sunday. The brokerage firm assigned a buy rating to the stock, indicating a positive outlook for potential investors.

Current Performance of MEI Pharma

As of last Friday, MEI Pharma's stock opened at $2.82, reflecting a slight increase of 0.7%. The company boasts a market capitalization of approximately $18.78 million. Presently, the stock has a price-to-earnings (P/E) ratio of -0.40 and a beta value of 0.83. Over the past year, MEI Pharma's shares have ranged from a low of $2.61 to a high of $6.91. The 50-day moving average stands at $2.87, while the 200-day moving average is noted at $3.00.

In their recent quarterly earnings report released on November 12th, MEI Pharma reported an earnings per share (EPS) of ($1.20). Shareholder expectations based on current analysis suggest that the company may post an average EPS of -5.1 for the ongoing year.

Institutional Investments in MEI Pharma

Recent activity among institutional investors reveals that several have adjusted their holdings in MEI Pharma. The National Bank of Canada FI increased its stake by 43.5% in the second quarter, now owning 33,000 shares valued at approximately $94,000 after adding 10,000 shares in the previous quarter. Meanwhile, Corsair Capital Management L.P. and World Investment Advisors LLC each acquired new positions in the third quarter, investing around $69,000 and $71,000, respectively. Currently, institutional investors collectively hold 52.38% of MEI Pharma's stock.

Overview of MEI Pharma

MEI Pharma, Inc. is a clinical-stage biopharmaceutical company dedicated to developing and commercializing innovative therapies aimed at treating cancer. Key products in its pipeline include Zandelisib, an oral phosphatidylinositol 3-kinase delta inhibitor designed for patients with relapsed or refractory follicular lymphoma, and Voruciclib, an oral cyclin-dependent kinase 9 inhibitor that is undergoing Phase I clinical trials targeting acute myeloid leukemia and various B-cell malignancies.

Additional Information

For investors seeking opportunities, it is worth noting that there are other stocks recommended by analysts that may present better options compared to MEI Pharma. Additionally, understanding stock sentiment analysis and market trends can provide valuable insights regarding investment decisions.

MEI, Pharma, Investments