MEI Pharma (NASDAQ:MEIP) Releases Earnings Results, Beats Expectations By $0.11 EPS

MEI Pharma (NASDAQ:MEIPGet Rating) posted its quarterly earnings results on Monday. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.11, MarketWatch Earnings reports. MEI Pharma had a negative net margin of 123.86% and a negative return on equity of 83.20%.

Shares of NASDAQ MEIP opened at $0.45 on Tuesday. MEI Pharma has a 52-week low of $0.45 and a 52-week high of $3.55. The firm has a fifty day moving average of $0.76 and a 200-day moving average of $1.81. The stock has a market capitalization of $60.24 million, a PE ratio of -0.77 and a beta of 1.28.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley grew its stake in shares of MEI Pharma by 287.9% during the 2nd quarter. Morgan Stanley now owns 63,616 shares of the company’s stock valued at $182,000 after buying an additional 47,218 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of MEI Pharma by 8.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 255,594 shares of the company’s stock valued at $154,000 after buying an additional 20,818 shares during the period. Virtu Financial LLC purchased a new stake in shares of MEI Pharma during the 1st quarter valued at $152,000. D. E. Shaw & Co. Inc. purchased a new stake in shares of MEI Pharma during the 4th quarter valued at $150,000. Finally, Bank of America Corp DE boosted its position in MEI Pharma by 172.8% during the 4th quarter. Bank of America Corp DE now owns 50,651 shares of the company’s stock worth $135,000 after purchasing an additional 32,084 shares during the period. 60.18% of the stock is owned by institutional investors.

Several research analysts recently issued reports on the company. BTIG Research cut their price objective on MEI Pharma from $11.00 to $4.00 and set a “buy” rating for the company in a research report on Friday, March 25th. HC Wainwright cut their price objective on MEI Pharma from $10.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, March 25th. StockNews.com assumed coverage on MEI Pharma in a research report on Tuesday, May 10th. They set a “hold” rating for the company. Jefferies Financial Group downgraded MEI Pharma from a “buy” rating to a “hold” rating and cut their price objective for the stock from $4.00 to $1.00 in a research report on Friday, March 25th. Finally, Wells Fargo & Company downgraded MEI Pharma from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $13.00 to $2.00 in a research report on Friday, March 25th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.97.

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 for MEI Pharma (NASDAQ:MEIP)

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