MEI Pharma, Inc. (NASDAQ:MEIP) Expected to Post Earnings of -$0.07 Per Share

Brokerages expect MEI Pharma, Inc. (NASDAQ:MEIP) to report earnings per share (EPS) of ($0.07) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for MEI Pharma’s earnings. MEI Pharma reported earnings per share of ($0.15) in the same quarter last year, which indicates a positive year-over-year growth rate of 53.3%. The business is scheduled to report its next quarterly earnings results on Thursday, February 4th.

On average, analysts expect that MEI Pharma will report full-year earnings of ($0.51) per share for the current financial year, with EPS estimates ranging from ($0.65) to ($0.42). For the next fiscal year, analysts expect that the company will report earnings of ($0.52) per share, with EPS estimates ranging from ($0.79) to ($0.26). Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for MEI Pharma.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings results on Tuesday, November 10th. The company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.18). MEI Pharma had a negative net margin of 142.81% and a negative return on equity of 33.55%. The company had revenue of $3.83 million during the quarter, compared to analyst estimates of $2.48 million.

A number of equities research analysts have commented on the company. Zacks Investment Research lowered MEI Pharma from a “hold” rating to a “sell” rating in a research report on Thursday, September 10th. Alliance Global Partners assumed coverage on MEI Pharma in a research report on Tuesday, September 22nd. They set a “buy” rating and a $9.00 price objective for the company. Lifesci Capital restated an “outperform” rating on shares of MEI Pharma in a research report on Wednesday, October 21st. BidaskClub upgraded MEI Pharma from a “sell” rating to a “hold” rating in a research report on Wednesday, December 23rd. Finally, Brookline Capital Management restated a “buy” rating on shares of MEI Pharma in a research report on Monday, October 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. MEI Pharma has a consensus rating of “Buy” and a consensus price target of $9.29.

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of Montreal Can bought a new position in shares of MEI Pharma in the 2nd quarter valued at approximately $28,000. Brooks Moore & Associates Inc. bought a new position in shares of MEI Pharma in the 3rd quarter valued at approximately $34,000. State of Wisconsin Investment Board bought a new position in shares of MEI Pharma in the 2nd quarter valued at approximately $44,000. HighMark Wealth Management LLC bought a new position in shares of MEI Pharma in the 3rd quarter valued at approximately $52,000. Finally, Private Advisor Group LLC bought a new position in shares of MEI Pharma in the 2nd quarter valued at approximately $53,000. 54.58% of the stock is owned by institutional investors.

Shares of NASDAQ MEIP opened at $2.64 on Wednesday. MEI Pharma has a one year low of $0.72 and a one year high of $4.46. The firm has a market capitalization of $297.06 million, a PE ratio of -4.40 and a beta of 1.71. The business has a 50-day moving average price of $2.87 and a two-hundred day moving average price of $3.04.

MEI Pharma Company Profile

MEI Pharma, Inc, a late-stage pharmaceutical company, focuses on the development of various therapies for the treatment of cancer. The company develops Zandelisib, an oral phosphatidylinositol 3-kinase delta inhibitor that is in Phase II 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 inhibitor, which is in Phase Ib clinical trial for acute myeloid leukemia and B-cell malignancies.

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

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