Brokerages forecast that MEI Pharma Inc (NASDAQ:MEIP) will report ($0.12) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for MEI Pharma’s earnings, with the highest EPS estimate coming in at ($0.09) and the lowest estimate coming in at ($0.16). MEI Pharma reported earnings per share of ($0.24) during the same quarter last year, which would indicate a positive year-over-year growth rate of 50%. The company is expected to issue its next quarterly earnings report on Wednesday, November 14th.
According to Zacks, analysts expect that MEI Pharma will report full-year earnings of ($0.64) per share for the current year, with EPS estimates ranging from ($0.96) to ($0.45). For the next year, analysts anticipate that the business will report earnings of ($0.65) per share, with EPS estimates ranging from ($0.75) to ($0.55). Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for MEI Pharma.
MEI Pharma (NASDAQ:MEIP) last released its earnings results on Thursday, August 30th. The company reported ($0.36) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.14). The company had revenue of $0.55 million for the quarter, compared to analysts’ expectations of $0.46 million. MEI Pharma had a negative net margin of 2,470.28% and a negative return on equity of 67.76%.
A number of equities research analysts have commented on MEIP shares. Wells Fargo & Co raised MEI Pharma from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 6th. SunTrust Banks started coverage on MEI Pharma in a report on Friday, July 13th. They set a “buy” rating and a $12.00 price target on the stock. Cann reissued a “buy” rating on shares of MEI Pharma in a report on Monday, July 9th. Zacks Investment Research raised MEI Pharma from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a report on Wednesday, July 11th. Finally, Stifel Nicolaus raised MEI Pharma from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Thursday, July 26th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. MEI Pharma has a consensus rating of “Buy” and an average target price of $7.58.
NASDAQ:MEIP opened at $4.36 on Friday. The stock has a market cap of $310.65 million, a price-to-earnings ratio of -5.89 and a beta of 2.00. MEI Pharma has a 52 week low of $1.79 and a 52 week high of $5.14.
In other MEI Pharma news, COO David M. Urso sold 9,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $3.58, for a total transaction of $34,010.00. Following the completion of the transaction, the chief operating officer now owns 33,606 shares in the company, valued at $120,309.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.25% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in MEIP. Vivo Capital LLC purchased a new position in shares of MEI Pharma during the second quarter valued at approximately $26,007,000. NEA Management Company LLC purchased a new stake in shares of MEI Pharma in the second quarter valued at approximately $22,539,000. Boxer Capital LLC purchased a new stake in shares of MEI Pharma in the second quarter valued at approximately $11,478,000. Millennium Management LLC boosted its holdings in shares of MEI Pharma by 13,117.0% in the second quarter. Millennium Management LLC now owns 1,394,790 shares of the company’s stock valued at $5,495,000 after purchasing an additional 1,384,237 shares during the period. Finally, Sio Capital Management LLC boosted its holdings in shares of MEI Pharma by 133.7% in the second quarter. Sio Capital Management LLC now owns 2,183,986 shares of the company’s stock valued at $8,605,000 after purchasing an additional 1,249,423 shares during the period. Institutional investors and hedge funds own 97.50% of the company’s stock.
MEI Pharma Company Profile
MEI Pharma, Inc, an oncology company, focuses on the clinical development of drugs for the treatment of cancer. The company's clinical drug candidate includes Pracinostat, an orally available histone deacetylase inhibitor for the treatment of patients with acute myeloid leukemia and myelodysplastic syndrome.
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