Analysts Expect MEI Pharma, Inc. (NASDAQ:MEIP) Will Announce Earnings of -$0.14 Per Share

Wall Street brokerages expect MEI Pharma, Inc. (NASDAQ:MEIPGet Rating) to post earnings per share of ($0.14) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for MEI Pharma’s earnings, with the lowest EPS estimate coming in at ($0.20) and the highest estimate coming in at ($0.06). The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that MEI Pharma will report full year earnings of ($0.50) per share for the current financial year, with EPS estimates ranging from ($0.56) to ($0.43). For the next year, analysts anticipate that the firm will report earnings of ($0.62) per share, with EPS estimates ranging from ($0.91) to ($0.36). Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for MEI Pharma.

MEI Pharma (NASDAQ:MEIPGet Rating) last issued its quarterly earnings results on Monday, May 23rd. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.11. MEI Pharma had a negative return on equity of 83.20% and a negative net margin of 123.86%.

MEIP has been the topic of a number of recent research reports. Wells Fargo & Company lowered MEI Pharma from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $13.00 to $2.00 in a report on Friday, March 25th. Zacks Investment Research downgraded MEI Pharma from a “buy” rating to a “hold” rating in a research report on Friday, February 4th. Alliance Global Partners reduced their price target on MEI Pharma from $9.00 to $5.00 in a research report on Wednesday, April 20th. Jefferies Financial Group lowered MEI Pharma from a “buy” rating to a “hold” rating and dropped their price objective for the company from $4.00 to $1.00 in a research note on Friday, March 25th. Finally, StockNews.com began coverage on MEI Pharma in a research note on Tuesday, May 10th. They set a “hold” rating for the company. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $4.97.

Several large investors have recently bought and sold shares of the company. GSA Capital Partners LLP boosted its holdings in shares of MEI Pharma by 99.0% during the 3rd quarter. GSA Capital Partners LLP now owns 55,095 shares of the company’s stock valued at $152,000 after purchasing an additional 27,403 shares during the last quarter. Bioimpact Capital LLC bought a new position in shares of MEI Pharma during the 4th quarter valued at about $32,977,000. Geode Capital Management LLC boosted its holdings in shares of MEI Pharma by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,694,637 shares of the company’s stock valued at $4,677,000 after purchasing an additional 31,961 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of MEI Pharma by 151.5% during the 3rd quarter. Citigroup Inc. now owns 12,979 shares of the company’s stock valued at $36,000 after purchasing an additional 7,818 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of MEI Pharma by 1.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,094,367 shares of the company’s stock valued at $3,020,000 after purchasing an additional 11,358 shares during the last quarter. Hedge funds and other institutional investors own 60.18% of the company’s stock.

Shares of NASDAQ:MEIP opened at $0.45 on Tuesday. The business’s 50 day simple moving average is $0.76 and its two-hundred day simple moving average is $1.81. The firm has a market cap of $60.24 million, a P/E ratio of -0.77 and a beta of 1.28. MEI Pharma has a 52-week low of $0.45 and a 52-week high of $3.55.

About MEI Pharma (Get Rating)

MEI Pharma, Inc, a late-stage pharmaceutical company, focuses on the development and commercialization of various therapies for the treatment of cancer. The company develops Zandelisib, an oral phosphatidylinositol 3-kinase delta inhibitor that is in Phase III clinical trial for the treatment of patients with relapsed/refractory follicular lymphoma, as well as in Phase Ib multi-arm trial to treat B-cell malignancies; and Voruciclib, an oral cyclin-dependent kinase 9 inhibitor, which is in Phase Ib clinical trial for acute myeloid leukemia and B-cell malignancies.

See Also

Get a free copy of the Zacks research report on MEI Pharma (MEIP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for MEI Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MEI Pharma and related companies with MarketBeat.com's FREE daily email newsletter.