MEI Pharma Inc (NASDAQ:MEIP) Expected to Post Earnings of -$0.16 Per Share

Equities research analysts predict that MEI Pharma Inc (NASDAQ:MEIP) will announce ($0.16) earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for MEI Pharma’s earnings, with the lowest EPS estimate coming in at ($0.16) and the highest estimate coming in at ($0.15). MEI Pharma reported earnings per share of ($0.14) in the same quarter last year, which would indicate a negative year over year growth rate of 14.3%. The company is expected to issue its next quarterly earnings results on Thursday, November 14th.

On average, analysts expect that MEI Pharma will report full year earnings of ($0.69) per share for the current year, with EPS estimates ranging from ($0.74) to ($0.64). For the next financial year, analysts forecast that the firm will report earnings of ($0.41) per share, with EPS estimates ranging from ($0.67) to $0.10. Zacks’ EPS averages are a mean average based on a survey of research firms that follow MEI Pharma.

MEI Pharma (NASDAQ:MEIP) last issued its quarterly earnings data on Wednesday, August 28th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.18. MEI Pharma had a negative net margin of 819.04% and a negative return on equity of 76.61%. The company had revenue of $1.13 million for the quarter, compared to analysts’ expectations of $1.05 million.

MEIP has been the topic of several analyst reports. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of MEI Pharma in a research note on Monday, June 24th. ValuEngine raised shares of MEI Pharma from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research raised shares of MEI Pharma from a “hold” rating to a “buy” rating and set a $2.00 price objective on the stock in a research note on Tuesday, September 3rd. Six investment analysts have rated the stock with a buy rating, MEI Pharma has a consensus rating of “Buy” and a consensus target price of $6.50.

Shares of MEI Pharma stock traded down $0.01 during trading on Monday, hitting $1.78. The company’s stock had a trading volume of 3,009 shares, compared to its average volume of 246,806. MEI Pharma has a 52 week low of $1.44 and a 52 week high of $4.05. The stock has a market cap of $126.18 million, a price-to-earnings ratio of -2.85 and a beta of 1.67. The stock has a 50-day moving average price of $1.78 and a two-hundred day moving average price of $2.32.

In other news, Director Christine Anna White bought 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $1.74 per share, for a total transaction of $26,100.00. Following the completion of the acquisition, the director now directly owns 15,000 shares in the company, valued at $26,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.01% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Citadel Advisors LLC acquired a new position in MEI Pharma in the second quarter valued at $151,000. Bailard Inc. lifted its holdings in MEI Pharma by 8.1% in the second quarter. Bailard Inc. now owns 543,992 shares of the company’s stock valued at $1,360,000 after buying an additional 40,700 shares during the period. Algert Global LLC lifted its holdings in MEI Pharma by 105.4% in the second quarter. Algert Global LLC now owns 38,797 shares of the company’s stock valued at $97,000 after buying an additional 19,907 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in MEI Pharma by 690.7% in the second quarter. Jacobs Levy Equity Management Inc. now owns 135,524 shares of the company’s stock valued at $339,000 after buying an additional 118,385 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in MEI Pharma by 385.3% in the second quarter. Bank of New York Mellon Corp now owns 183,255 shares of the company’s stock valued at $458,000 after buying an additional 145,492 shares during the period. Institutional investors and hedge funds own 64.47% of the company’s stock.

About MEI Pharma

MEI Pharma, Inc, a pharmaceutical company, focuses on the clinical development of novel therapies for the treatment of cancer. The company's clinical drug candidate includes Pracinostat, an oral 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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