Brokerages Anticipate MEI Pharma Inc (MEIP) Will Announce Quarterly Sales of $1.01 Million

Equities analysts expect that MEI Pharma Inc (NASDAQ:MEIP) will announce sales of $1.01 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for MEI Pharma’s earnings, with the highest sales estimate coming in at $2.28 million and the lowest estimate coming in at $350,000.00. MEI Pharma posted sales of $430,000.00 in the same quarter last year, which would indicate a positive year over year growth rate of 134.9%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, May 8th.

On average, analysts expect that MEI Pharma will report full year sales of $4.26 million for the current financial year, with estimates ranging from $3.00 million to $7.24 million. For the next fiscal year, analysts expect that the firm will report sales of $16.07 million, with estimates ranging from $2.06 million to $38.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover MEI Pharma.

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

MEIP has been the subject of several research analyst reports. HC Wainwright initiated coverage on MEI Pharma in a research report on Thursday, December 20th. They set a “buy” rating and a $10.00 price target for the company. BTIG Research initiated coverage on MEI Pharma in a report on Tuesday, February 12th. They issued a “buy” rating for the company. Finally, Oppenheimer reiterated a “buy” rating on shares of MEI Pharma in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. MEI Pharma currently has an average rating of “Buy” and an average price target of $8.08.

A number of hedge funds have recently modified their holdings of the stock. Perceptive Advisors LLC purchased a new stake in MEI Pharma in the 4th quarter valued at approximately $11,617,000. Vanguard Group Inc. boosted its holdings in MEI Pharma by 70.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,342,115 shares of the company’s stock valued at $10,095,000 after purchasing an additional 964,033 shares in the last quarter. Vanguard Group Inc boosted its holdings in MEI Pharma by 70.0% in the 3rd quarter. Vanguard Group Inc now owns 2,342,115 shares of the company’s stock valued at $10,095,000 after purchasing an additional 964,033 shares in the last quarter. Sio Capital Management LLC boosted its holdings in MEI Pharma by 5.5% in the 3rd quarter. Sio Capital Management LLC now owns 2,303,645 shares of the company’s stock valued at $9,929,000 after purchasing an additional 119,659 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in MEI Pharma by 0.8% in the 3rd quarter. Renaissance Technologies LLC now owns 2,236,480 shares of the company’s stock valued at $9,639,000 after purchasing an additional 17,667 shares in the last quarter. Hedge funds and other institutional investors own 56.27% of the company’s stock.

Shares of MEIP traded up $0.04 during midday trading on Friday, hitting $3.14. 3,841 shares of the stock were exchanged, compared to its average volume of 136,148. MEI Pharma has a 52-week low of $1.82 and a 52-week high of $5.14. The firm has a market cap of $219.85 million, a P/E ratio of -4.26 and a beta of 1.98.

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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