$7.92 Million in Sales Expected for MEI Pharma, Inc. (NASDAQ:MEIP) This Quarter

Equities analysts expect MEI Pharma, Inc. (NASDAQ:MEIPGet Rating) to report sales of $7.92 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for MEI Pharma’s earnings. The lowest sales estimate is $5.00 million and the highest is $12.00 million. MEI Pharma posted sales of $10.12 million during the same quarter last year, which suggests a negative year-over-year growth rate of 21.7%. The firm is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that MEI Pharma will report full year sales of $40.77 million for the current year, with estimates ranging from $31.60 million to $45.86 million. For the next financial year, analysts forecast that the company will post sales of $31.17 million, with estimates ranging from $20.00 million to $37.50 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover MEI Pharma.

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

Several research analysts have recently weighed in on the stock. Wells Fargo & Company cut shares of MEI Pharma from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $13.00 to $2.00 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 price objective for the company from $6.00 to $2.00 in a report on Friday, March 25th. BTIG Research cut their target price on shares of MEI Pharma to $3.00 and set a “na” rating for the company in a research report on Tuesday. Alliance Global Partners cut their target price on shares of MEI Pharma from $9.00 to $5.00 in a research report on Wednesday, April 20th. Finally, Jefferies Financial Group lowered shares of MEI Pharma from a “buy” rating to a “hold” rating and cut their target price for the company from $4.00 to $1.00 in a research report on Friday, March 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $4.86.

Several large investors have recently modified their holdings of the stock. GSA Capital Partners LLP raised its stake in MEI Pharma by 99.0% during the third 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 in the last quarter. Bioimpact Capital LLC purchased a new stake in MEI Pharma during the fourth quarter valued at $32,977,000. Geode Capital Management LLC raised its stake in MEI Pharma by 1.9% during the third 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 in the last quarter. Citigroup Inc. raised its stake in MEI Pharma by 151.5% during the third quarter. Citigroup Inc. now owns 12,979 shares of the company’s stock valued at $36,000 after purchasing an additional 7,818 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of MEI Pharma by 1.0% in the third quarter. Point72 Asset Management L.P. now owns 1,094,367 shares of the company’s stock valued at $3,020,000 after acquiring an additional 11,358 shares during the period. Hedge funds and other institutional investors own 60.18% of the company’s stock.

MEIP opened at $0.42 on Thursday. The firm has a 50 day moving average price of $0.70 and a 200-day moving average price of $1.79. MEI Pharma has a twelve month low of $0.41 and a twelve month high of $3.55. The stock has a market capitalization of $55.47 million, a price-to-earnings ratio of -0.71 and a beta of 1.28.

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.

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

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