FY2023 EPS Estimates for MEI Pharma, Inc. (NASDAQ:MEIP) Raised by Analyst

MEI Pharma, Inc. (NASDAQ:MEIPGet Rating) – Analysts at HC Wainwright increased their FY2023 earnings per share estimates for shares of MEI Pharma in a report released on Wednesday, November 16th. HC Wainwright analyst A. Fein now anticipates that the company will earn ($0.53) per share for the year, up from their previous estimate of ($0.89). HC Wainwright currently has a “Buy” rating on the stock. The consensus estimate for MEI Pharma’s current full-year earnings is ($0.59) per share. HC Wainwright also issued estimates for MEI Pharma’s Q4 2023 earnings at ($0.14) EPS, FY2024 earnings at ($0.80) EPS, FY2025 earnings at ($0.81) EPS and FY2026 earnings at ($0.56) EPS.

MEI Pharma (NASDAQ:MEIPGet Rating) last issued its earnings results on Thursday, September 8th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.06. MEI Pharma had a negative return on equity of 115.15% and a negative net margin of 98.17%. The firm had revenue of $11.41 million for the quarter, compared to analyst estimates of $7.92 million.

Other equities research analysts also recently issued reports about the company. StockNews.com started coverage on MEI Pharma in a research note on Thursday. They issued a “hold” rating for the company. BTIG Research lowered their price objective on MEI Pharma to $2.00 in a report on Thursday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MEI Pharma has an average rating of “Hold” and a consensus price target of $2.86.

MEI Pharma Stock Down 3.2 %

Shares of MEIP stock opened at $0.39 on Friday. MEI Pharma has a fifty-two week low of $0.28 and a fifty-two week high of $3.55. The stock has a market capitalization of $51.97 million, a P/E ratio of -0.97 and a beta of 0.83. The stock has a 50-day simple moving average of $0.38 and a 200 day simple moving average of $0.48.

Institutional Investors Weigh In On MEI Pharma

A number of institutional investors have recently made changes to their positions in MEIP. Prudential Financial Inc. acquired a new position in MEI Pharma in the third quarter valued at about $30,000. GSA Capital Partners LLP lifted its holdings in shares of MEI Pharma by 111.0% in the first quarter. GSA Capital Partners LLP now owns 60,923 shares of the company’s stock valued at $37,000 after purchasing an additional 32,050 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of MEI Pharma by 483.3% in the second quarter. BNP Paribas Arbitrage SA now owns 62,963 shares of the company’s stock valued at $38,000 after purchasing an additional 52,169 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in MEI Pharma during the third quarter worth about $39,000. Finally, Annandale Capital LLC bought a new stake in MEI Pharma during the third quarter worth about $39,000. 35.80% of the stock is owned by institutional investors and hedge funds.

MEI Pharma Company Profile

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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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