MEI Pharma Inc (MEIP) Expected to Announce Earnings of -$0.20 Per Share

Analysts expect MEI Pharma Inc (NASDAQ:MEIP) to report ($0.20) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for MEI Pharma’s earnings. The highest EPS estimate is ($0.13) and the lowest is ($0.38). MEI Pharma posted earnings per share of ($0.13) during the same quarter last year, which indicates a negative year-over-year growth rate of 53.8%. The firm is expected to announce its next quarterly earnings results on Thursday, August 29th.

On average, analysts expect that MEI Pharma will report full year earnings of ($0.67) per share for the current financial year, with EPS estimates ranging from ($0.98) to ($0.41). For the next financial year, analysts expect that the business will post earnings of ($0.79) per share, with EPS estimates ranging from ($1.08) to ($0.51). Zacks’ earnings per share calculations are a mean average based on a survey of research firms that follow MEI Pharma.

A number of analysts have recently issued reports on MEIP shares. BTIG Research started coverage on shares of MEI Pharma in a research note on Tuesday, February 12th. They set a “buy” rating on the stock. Oppenheimer reiterated a “buy” rating on shares of MEI Pharma in a research note on Tuesday, March 19th. Zacks Investment Research lowered shares of MEI Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, HC Wainwright reissued a “buy” rating on shares of MEI Pharma in a report on Friday, May 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. MEI Pharma has an average rating of “Buy” and an average target price of $8.05.

Hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. bought a new position in MEI Pharma in the first quarter valued at about $47,000. Two Sigma Advisers LP acquired a new stake in MEI Pharma in the 4th quarter valued at approximately $46,000. Algert Global LLC acquired a new stake in MEI Pharma in the 1st quarter valued at approximately $58,000. Zacks Investment Management acquired a new position in shares of MEI Pharma during the 4th quarter worth approximately $51,000. Finally, Knott David M increased its position in shares of MEI Pharma by 83.8% during the 4th quarter. Knott David M now owns 38,590 shares of the company’s stock worth $102,000 after purchasing an additional 17,590 shares during the last quarter. Institutional investors own 57.52% of the company’s stock.

Shares of MEIP traded down $0.03 during mid-day trading on Thursday, hitting $2.64. The company had a trading volume of 87,094 shares, compared to its average volume of 215,238. MEI Pharma has a 1-year low of $1.82 and a 1-year high of $5.14. The stock has a market capitalization of $192.48 million, a PE ratio of -3.57 and a beta of 1.95.

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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Earnings History and Estimates for MEI Pharma (NASDAQ:MEIP)

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