Equities research analysts forecast that MEI Pharma Inc (NASDAQ:MEIP) will announce earnings per share (EPS) of ($0.20) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for MEI Pharma’s earnings. The lowest EPS estimate is ($0.38) and the highest is ($0.13). MEI Pharma posted earnings of ($0.13) per share in the same quarter last year, which would suggest a negative year over year growth rate of 53.8%. The firm is expected to report its next earnings report on Thursday, August 29th.
According to Zacks, analysts expect that MEI Pharma will report full-year earnings of ($0.67) per share for the current year, with EPS estimates ranging from ($0.98) to ($0.41). For the next financial year, analysts forecast that the firm will report earnings of ($0.79) per share, with EPS estimates ranging from ($1.08) to ($0.51). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover MEI Pharma.
Several analysts recently weighed in on MEIP shares. HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of MEI Pharma in a report on Monday, June 24th. ValuEngine cut shares of MEI Pharma from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Finally, Zacks Investment Research cut shares of MEI Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $7.08.
NASDAQ:MEIP traded up $0.21 during trading hours on Wednesday, hitting $1.75. The company had a trading volume of 45,654 shares, compared to its average volume of 309,053. The company has a market capitalization of $111.21 million, a PE ratio of -2.38 and a beta of 1.73. The stock has a 50-day moving average price of $1.91 and a 200 day moving average price of $2.68. MEI Pharma has a 52 week low of $1.44 and a 52 week high of $4.80.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in MEI Pharma by 511.4% during the second quarter. BlackRock Inc. now owns 3,650,912 shares of the company’s stock worth $9,127,000 after buying an additional 3,053,745 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of MEI Pharma by 20.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,565,513 shares of the company’s stock worth $6,414,000 after acquiring an additional 440,500 shares in the last quarter. Wasatch Advisors Inc. boosted its position in shares of MEI Pharma by 52.2% during the 1st quarter. Wasatch Advisors Inc. now owns 1,109,571 shares of the company’s stock worth $3,406,000 after acquiring an additional 380,531 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of MEI Pharma by 13.8% during the 2nd quarter. Vanguard Group Inc. now owns 2,849,609 shares of the company’s stock worth $7,124,000 after acquiring an additional 344,986 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of MEI Pharma by 385.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 183,255 shares of the company’s stock worth $458,000 after acquiring an additional 145,492 shares in the last quarter. 64.77% of the stock is owned by institutional investors and hedge funds.
MEI Pharma Company Profile
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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