MEI Pharma Inc (MEIP) Expected to Announce Earnings of -$0.17 Per Share

Wall Street analysts expect MEI Pharma Inc (NASDAQ:MEIP) to post earnings of ($0.17) per share for the current quarter, according to Zacks. Four analysts have made estimates for MEI Pharma’s earnings, with estimates ranging from ($0.26) to ($0.11). MEI Pharma posted earnings per share of ($0.16) in the same quarter last year, which suggests a negative year-over-year growth rate of 6.3%. The firm is scheduled to report its next quarterly earnings results on Wednesday, May 8th.

According to Zacks, analysts expect that MEI Pharma will report full year earnings of ($0.59) per share for the current year, with EPS estimates ranging from ($1.00) to ($0.30). For the next financial year, analysts expect that the firm will report earnings of ($0.77) per share, with EPS estimates ranging from ($1.08) to ($0.50). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover MEI Pharma.

MEI Pharma (NASDAQ:MEIP) last released its earnings results on Thursday, February 7th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). MEI Pharma had a negative net margin of 1,454.51% and a negative return on equity of 77.29%. The business had revenue of $2.05 million during the quarter, compared to analyst estimates of $3.05 million.

A number of equities research analysts have commented on the company. Oppenheimer reissued a “buy” rating on shares of MEI Pharma in a report on Tuesday, March 19th. reissued a “buy” rating and issued a $7.50 target price on shares of MEI Pharma in a report on Monday, December 3rd. HC Wainwright assumed coverage on MEI Pharma in a report on Thursday, December 20th. They issued a “buy” rating and a $10.00 target price for the company. Finally, BTIG Research assumed coverage on MEI Pharma in a report on Tuesday, February 12th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $8.08.

MEI Pharma stock opened at $3.07 on Friday. MEI Pharma has a one year low of $1.82 and a one year high of $5.14. The firm has a market capitalization of $218.43 million, a price-to-earnings ratio of -4.15 and a beta of 1.96.

Several hedge funds have recently made changes to their positions in the company. Perceptive Advisors LLC purchased a new position in shares of MEI Pharma in the fourth quarter valued at $11,617,000. Vanguard Group Inc. increased its position in shares of MEI Pharma by 70.0% in the third quarter. Vanguard Group Inc. now owns 2,342,115 shares of the company’s stock valued at $10,095,000 after buying an additional 964,033 shares in the last quarter. Vanguard Group Inc increased its position in shares of MEI Pharma by 70.0% in the third quarter. Vanguard Group Inc now owns 2,342,115 shares of the company’s stock valued at $10,095,000 after buying an additional 964,033 shares in the last quarter. Sio Capital Management LLC increased its position in shares of MEI Pharma by 5.5% in the third quarter. Sio Capital Management LLC now owns 2,303,645 shares of the company’s stock valued at $9,929,000 after buying an additional 119,659 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of MEI Pharma by 0.8% in the third quarter. Renaissance Technologies LLC now owns 2,236,480 shares of the company’s stock valued at $9,639,000 after buying an additional 17,667 shares in the last quarter. Institutional investors and hedge funds own 56.27% of the company’s stock.

About MEI Pharma

MEI Pharma, Inc, a pharmaceutical company, focuses on the clinical development of novel therapies for the treatment of cancer. The company's clinical drug candidate includes Pracinostat, an oral available histone deacetylase inhibitor for the treatment of patients with acute myeloid leukemia and myelodysplastic syndrome.

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Earnings History and Estimates for MEI Pharma (NASDAQ:MEIP)

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