MEI Pharma Inc (MEIP) Expected to Announce Earnings of -$0.22 Per Share

Wall Street analysts expect MEI Pharma Inc (NASDAQ:MEIP) to post earnings of ($0.22) per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for MEI Pharma’s earnings. The highest EPS estimate is ($0.10) and the lowest is ($0.50). MEI Pharma posted earnings per share of ($0.12) in the same quarter last year, which would indicate a negative year-over-year growth rate of 83.3%. The company is scheduled to announce its next quarterly earnings results on Tuesday, September 4th.

On average, analysts expect that MEI Pharma will report full year earnings of ($0.81) per share for the current year, with EPS estimates ranging from ($1.06) to ($0.65). For the next fiscal year, analysts anticipate that the business will report earnings of ($1.07) per share, with EPS estimates ranging from ($2.33) to ($0.47). Zacks’ EPS calculations are an average based on a survey of sell-side analysts that cover MEI Pharma.

MEIP has been the subject of a number of research reports. ValuEngine raised MEI Pharma from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Stifel Nicolaus raised MEI Pharma from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Thursday, July 26th. Zacks Investment Research cut MEI Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Wells Fargo & Co raised MEI Pharma from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 6th. Finally, SunTrust Banks initiated coverage on MEI Pharma in a research note on Friday, July 13th. They set a “buy” rating and a $12.00 target price for the company. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $7.42.

In related news, COO David M. Urso sold 9,500 shares of the stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $3.58, for a total transaction of $34,010.00. Following the completion of the sale, the chief operating officer now directly owns 33,606 shares of the company’s stock, valued at approximately $120,309.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.25% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Keybank National Association OH acquired a new position in MEI Pharma during the 2nd quarter worth approximately $102,000. Citadel Advisors LLC boosted its position in MEI Pharma by 167.3% during the 2nd quarter. Citadel Advisors LLC now owns 34,488 shares of the company’s stock worth $135,000 after acquiring an additional 21,588 shares during the last quarter. Ardsley Advisory Partners acquired a new position in MEI Pharma during the 2nd quarter worth approximately $197,000. Deutsche Bank AG boosted its position in MEI Pharma by 43.1% during the 4th quarter. Deutsche Bank AG now owns 227,932 shares of the company’s stock worth $478,000 after acquiring an additional 68,691 shares during the last quarter. Finally, Bailard Inc. acquired a new position in MEI Pharma during the 2nd quarter worth approximately $571,000. 24.09% of the stock is owned by hedge funds and other institutional investors.

NASDAQ MEIP traded down $0.01 during trading hours on Friday, reaching $3.66. 3,302 shares of the company’s stock were exchanged, compared to its average volume of 313,432. MEI Pharma has a one year low of $1.79 and a one year high of $5.14. The stock has a market cap of $135.86 million, a price-to-earnings ratio of 52.14 and a beta of 1.93.

About MEI Pharma

MEI Pharma, Inc, an oncology company, focuses on the clinical development of drugs for the treatment of cancer. The company's clinical drug candidate includes Pracinostat, an orally available histone deacetylase inhibitor for the treatment of patients with acute myeloid leukemia and myelodysplastic syndrome.

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

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