FY2023 Earnings Forecast for MEI Pharma, Inc. (NASDAQ:MEIP) Issued By Jefferies Financial Group

MEI Pharma, Inc. (NASDAQ:MEIP – Get Rating) – Equities research analysts at Jefferies Financial Group reduced their FY2023 earnings per share (EPS) estimates for MEI Pharma in a research note issued to investors on Tuesday, May 24th. Jefferies Financial Group analyst C. Howerton now anticipates that the company will earn ($0.75) per share for the year, down from their previous forecast of ($0.68). Jefferies Financial Group currently has a “Hold” rating and a $1.00 target price on the stock. Jefferies Financial Group also issued estimates for MEI Pharma’s FY2024 earnings at ($0.22) EPS, FY2025 earnings at ($0.19) EPS and FY2026 earnings at ($0.12) EPS.

MEI Pharma (NASDAQ:MEIP – Get Rating) last released its 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 subject of a number of other reports. BTIG Research decreased their price target on MEI Pharma to $3.00 and set a “na” rating for the company in a report on Tuesday. Stifel Nicolaus cut MEI Pharma from a “buy” rating to a “hold” rating and dropped their price target for the company from $6.00 to $2.00 in a research report on Friday, March 25th. StockNews.com started coverage on MEI Pharma in a research report on Wednesday. They set a “hold” rating on the stock. Zacks Investment Research lowered MEI Pharma from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Alliance Global Partners decreased their price target on MEI Pharma from $9.00 to $5.00 in a research note on Wednesday, April 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $4.86.

NASDAQ:MEIP opened at $0.43 on Friday. The firm has a market cap of $56.65 million, a PE ratio of -0.72 and a beta of 1.28. The stock has a fifty day moving average price of $0.67 and a 200 day moving average price of $1.77. MEI Pharma has a 12-month low of $0.41 and a 12-month high of $3.55.

Hedge funds have recently bought and sold shares of the stock. Eagle Asset Management Inc. purchased a new stake in MEI Pharma in the 4th quarter valued at approximately $30,000. Man Group plc purchased a new stake in MEI Pharma in the 3rd quarter valued at approximately $34,000. Citigroup Inc. lifted its stake in MEI Pharma by 151.5% in the 3rd quarter. Citigroup Inc. now owns 12,979 shares of the company’s stock valued at $36,000 after buying an additional 7,818 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in MEI Pharma in the 4th quarter valued at approximately $50,000. Finally, BNP Paribas Arbitrage SA lifted its stake in 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 buying an additional 15,604 shares in the last quarter. 60.18% of the stock is currently owned by hedge funds and other institutional investors.

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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