$1.16 Million in Sales Expected for MEI Pharma Inc (MEIP) This Quarter

Equities research analysts expect MEI Pharma Inc (NASDAQ:MEIP) to report $1.16 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for MEI Pharma’s earnings. The highest sales estimate is $2.28 million and the lowest is $350,000.00. MEI Pharma reported sales of $430,000.00 in the same quarter last year, which would suggest a positive year over year growth rate of 169.8%. The firm is expected to report its next earnings report on Wednesday, May 8th.

According to Zacks, analysts expect that MEI Pharma will report full year sales of $4.42 million for the current fiscal year, with estimates ranging from $3.00 million to $7.24 million. For the next fiscal year, analysts anticipate that the company will report sales of $16.17 million, with estimates ranging from $2.06 million to $38.00 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow MEI Pharma.

MEI Pharma (NASDAQ:MEIP) last announced its earnings results on Thursday, February 7th. The company reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.01). The company had revenue of $2.05 million for the quarter, compared to analyst estimates of $3.05 million. MEI Pharma had a negative return on equity of 77.29% and a negative net margin of 1,454.51%.

Several research analysts have commented on the company. BTIG Research assumed coverage on MEI Pharma in a report on Tuesday, February 12th. They set a “buy” rating on the stock. HC Wainwright assumed coverage on MEI Pharma in a report on Thursday, December 20th. They set a “buy” rating and a $10.00 target price on the stock. reissued a “buy” rating and issued a $7.50 price target on shares of MEI Pharma in a research note on Monday, December 3rd. Finally, Zacks Investment Research cut MEI Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, November 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $8.08.

NASDAQ MEIP traded up $0.09 on Thursday, reaching $2.87. The company had a trading volume of 178,800 shares, compared to its average volume of 188,374. The company has a market capitalization of $195.66 million, a PE ratio of -3.88 and a beta of 1.92. MEI Pharma has a 52 week low of $1.82 and a 52 week high of $5.14.

Institutional investors have recently bought and sold shares of the stock. Two Sigma Advisers LP purchased a new stake in MEI Pharma in the 4th quarter worth $46,000. Zacks Investment Management bought a new position in MEI Pharma in the 4th quarter worth approximately $51,000. Knott David M increased its position in MEI Pharma by 83.8% in the 4th quarter. Knott David M now owns 38,590 shares of the company’s stock worth $102,000 after buying an additional 17,590 shares during the period. Bank of New York Mellon Corp increased its position in MEI Pharma by 76.7% in the 4th quarter. Bank of New York Mellon Corp now owns 39,017 shares of the company’s stock worth $103,000 after buying an additional 16,932 shares during the period. Finally, Virtu Financial LLC bought a new position in MEI Pharma in the 3rd quarter worth approximately $232,000. Institutional investors and hedge funds own 51.54% of the company’s stock.

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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