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

Wall Street brokerages expect MEI Pharma, Inc. (NASDAQ:MEIP – Get 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:MEIP – Get 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.

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