MEI Pharma Inc (MEIP) Expected to Announce Earnings of -$0.20 Per Share

Wall Street analysts expect MEI Pharma Inc (NASDAQ:MEIP) to announce ($0.20) earnings per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for MEI Pharma’s earnings, with the highest EPS estimate coming in at ($0.13) and the lowest estimate coming in at ($0.38). MEI Pharma reported earnings per share of ($0.13) during the same quarter last year, which would indicate a negative year over year growth rate of 53.8%. The company is expected to issue its next quarterly earnings report on Thursday, August 29th.

According to Zacks, analysts expect that MEI Pharma will report full year earnings of ($0.65) per share for the current fiscal year, with EPS estimates ranging from ($0.98) to ($0.30). For the next financial year, analysts expect that the company will post earnings of ($0.78) per share, with EPS estimates ranging from ($1.08) to ($0.50). Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover MEI Pharma.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of MEI Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. BTIG Research began coverage on shares of MEI Pharma in a research report on Tuesday, February 12th. They set a “buy” rating on the stock. HC Wainwright reaffirmed a “buy” rating on shares of MEI Pharma in a research report on Friday. Finally, Oppenheimer reaffirmed a “buy” rating on shares of MEI Pharma in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $8.05.

Shares of MEIP traded up $0.16 during mid-day trading on Tuesday, hitting $3.15. The company had a trading volume of 202,187 shares, compared to its average volume of 173,494. MEI Pharma has a 1-year low of $1.82 and a 1-year high of $5.14. The stock has a market capitalization of $212.02 million, a PE ratio of -4.26 and a beta of 1.95.

A number of hedge funds have recently made changes to their positions in the business. ClariVest Asset Management LLC raised its stake in shares of MEI Pharma by 6.2% in the first quarter. ClariVest Asset Management LLC now owns 153,100 shares of the company’s stock valued at $470,000 after purchasing an additional 9,000 shares in the last quarter. Citigroup Inc. raised its stake in shares of MEI Pharma by 6,504,000.0% in the first quarter. Citigroup Inc. now owns 65,041 shares of the company’s stock valued at $200,000 after purchasing an additional 65,040 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of MEI Pharma by 6.7% in the first quarter. Wells Fargo & Company MN now owns 169,944 shares of the company’s stock valued at $521,000 after purchasing an additional 10,643 shares in the last quarter. BlackRock Inc. raised its stake in shares of MEI Pharma by 1.4% in the first quarter. BlackRock Inc. now owns 597,167 shares of the company’s stock valued at $1,834,000 after purchasing an additional 8,534 shares in the last quarter. Finally, Wasatch Advisors Inc. raised its stake in shares of MEI Pharma by 52.2% in the first quarter. Wasatch Advisors Inc. now owns 1,109,571 shares of the company’s stock valued at $3,406,000 after purchasing an additional 380,531 shares in the last quarter. 56.64% of the stock is currently owned by hedge funds and other institutional investors.

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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