MEI Pharma (NASDAQ:MEIP) Announces Quarterly Earnings Results, Beats Expectations By $0.06 EPS

MEI Pharma (NASDAQ:MEIPGet Rating) posted its earnings results on Thursday. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.06, Fidelity Earnings reports. MEI Pharma had a negative return on equity of 108.04% and a negative net margin of 80.49%.

MEI Pharma Price Performance

Shares of MEIP opened at $0.55 on Friday. MEI Pharma has a 12 month low of $0.41 and a 12 month high of $3.55. The stock’s 50 day moving average is $0.54 and its two-hundred day moving average is $0.76.

Wall Street Analysts Forecast Growth

MEIP has been the topic of several analyst reports. StockNews.com initiated coverage on MEI Pharma in a report on Friday, August 12th. They set a “hold” rating on the stock. BTIG Research dropped their target price on MEI Pharma to $3.00 and set a “na” rating on the stock in a report on Tuesday, May 24th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $3.00.

Institutional Trading of MEI Pharma

Several institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA lifted its position 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 acquiring an additional 52,169 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of MEI Pharma by 969.4% in the first quarter. MetLife Investment Management LLC now owns 79,966 shares of the company’s stock valued at $48,000 after acquiring an additional 72,488 shares in the last quarter. Mirabella Financial Services LLP purchased a new position in shares of MEI Pharma in the first quarter valued at approximately $76,000. XTX Topco Ltd purchased a new position in shares of MEI Pharma in the first quarter valued at approximately $89,000. Finally, JPMorgan Chase & Co. lifted its position in shares of MEI Pharma by 162.2% in the second quarter. JPMorgan Chase & Co. now owns 167,282 shares of the company’s stock valued at $102,000 after acquiring an additional 103,480 shares in the last quarter. 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.

Further Reading

Earnings History for MEI Pharma (NASDAQ:MEIP)

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