MEI Pharma (NASDAQ:MEIP) Issues Earnings Results

MEI Pharma (NASDAQ:MEIPGet Rating) announced its earnings results on Thursday. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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

NASDAQ:MEIP opened at $0.55 on Friday. The business’s fifty day moving average price is $0.54 and its 200 day moving average price is $0.76. MEI Pharma has a 12 month low of $0.41 and a 12 month high of $3.55.

Hedge Funds Weigh In On MEI Pharma

Several large investors have recently bought and sold shares of MEIP. Renaissance Technologies LLC increased its holdings in MEI Pharma by 186.1% in the second quarter. Renaissance Technologies LLC now owns 2,725,773 shares of the company’s stock valued at $1,649,000 after buying an additional 1,773,200 shares during the last quarter. Millennium Management LLC acquired a new position in MEI Pharma in the second quarter valued at $829,000. Prudential Financial Inc. acquired a new position in MEI Pharma in the first quarter valued at $343,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in MEI Pharma in the first quarter valued at $317,000. Finally, Vanguard Group Inc. boosted its stake in MEI Pharma by 8.3% in the first quarter. Vanguard Group Inc. now owns 6,245,990 shares of the company’s stock valued at $3,763,000 after acquiring an additional 476,251 shares in the last quarter. Hedge funds and other institutional investors own 35.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on MEIP shares. BTIG Research cut their price objective on MEI Pharma to $3.00 and set a “na” rating on the stock in a research report on Tuesday, May 24th. StockNews.com started coverage on MEI Pharma in a research report on Friday, August 12th. They set a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $3.00.

About MEI Pharma

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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 for MEI Pharma (NASDAQ:MEIP)

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