MEI Pharma (NASDAQ:MEIP) Issues Earnings Results, Beats Estimates By $0.11 EPS

MEI Pharma (NASDAQ:MEIPGet Rating) released its quarterly earnings data on Monday. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.11, MarketWatch Earnings reports. MEI Pharma had a negative return on equity of 83.20% and a negative net margin of 123.86%.

MEIP stock opened at $0.45 on Tuesday. The company’s 50 day moving average is $0.76 and its two-hundred day moving average is $1.81. MEI Pharma has a twelve month low of $0.45 and a twelve month high of $3.55. The stock has a market cap of $60.24 million, a P/E ratio of -0.77 and a beta of 1.28.

Institutional investors and hedge funds have recently bought and sold shares of the company. MetLife Investment Management LLC increased its stake in MEI Pharma by 969.4% in the first quarter. MetLife Investment Management LLC now owns 79,966 shares of the company’s stock valued at $48,000 after purchasing an additional 72,488 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of MEI Pharma by 407.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 19,431 shares of the company’s stock valued at $54,000 after purchasing an additional 15,604 shares during the last quarter. Citigroup Inc. increased its holdings in shares of MEI Pharma by 116.7% in the fourth quarter. Citigroup Inc. now owns 28,128 shares of the company’s stock valued at $75,000 after purchasing an additional 15,149 shares during the period. Mirabella Financial Services LLP purchased a new stake in shares of MEI Pharma during the first quarter worth approximately $76,000. Finally, XTX Topco Ltd acquired a new stake in shares of MEI Pharma during the first quarter worth $89,000. Institutional investors and hedge funds own 60.18% of the company’s stock.

Several research firms recently commented on MEIP. Jefferies Financial Group cut MEI Pharma from a “buy” rating to a “hold” rating and cut their price target for the company from $4.00 to $1.00 in a report on Friday, March 25th. Stifel Nicolaus cut shares of MEI Pharma from a “buy” rating to a “hold” rating and decreased their target price for the company from $6.00 to $2.00 in a research report on Friday, March 25th. HC Wainwright reduced their price target on shares of MEI Pharma from $10.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, March 25th. Wells Fargo & Company downgraded shares of 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. Finally, Truist Financial dropped their price objective on MEI Pharma from $8.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, March 25th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $4.97.

MEI Pharma Company Profile (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.

Further Reading

Earnings History for MEI Pharma (NASDAQ:MEIP)

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