Analysts Anticipate MEI Pharma Inc (MEIP) to Announce -$0.17 Earnings Per Share

Wall Street brokerages expect that MEI Pharma Inc (NASDAQ:MEIP) will report earnings per share of ($0.17) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for MEI Pharma’s earnings. The highest EPS estimate is ($0.11) and the lowest is ($0.26). MEI Pharma reported earnings of ($0.16) per share in the same quarter last year, which would indicate a negative year over year growth rate of 6.3%. The firm is scheduled to announce its next earnings report on Wednesday, May 8th.

According to Zacks, analysts expect that MEI Pharma will report full-year earnings of ($0.59) per share for the current fiscal year, with EPS estimates ranging from ($1.00) to ($0.30). For the next year, analysts anticipate that the firm will post earnings of ($0.77) per share, with EPS estimates ranging from ($1.08) to ($0.50). Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that cover MEI Pharma.

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

A number of research firms recently issued reports on MEIP. Oppenheimer reaffirmed a “buy” rating on shares of MEI Pharma in a research report on Tuesday, March 19th. BTIG Research began coverage on MEI Pharma in a research report on Tuesday, February 12th. They issued a “buy” rating on the stock. Finally, HC Wainwright started coverage on MEI Pharma in a research report on Thursday, December 20th. They issued a “buy” rating and a $10.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. MEI Pharma presently has an average rating of “Buy” and a consensus target price of $8.08.

Shares of NASDAQ:MEIP traded down $0.02 during midday trading on Friday, reaching $3.18. The company had a trading volume of 131,543 shares, compared to its average volume of 180,070. The company has a market cap of $227.68 million, a P/E ratio of -4.30 and a beta of 1.98. MEI Pharma has a 1-year low of $1.82 and a 1-year high of $5.14.

A number of hedge funds and other institutional investors have recently made changes to their positions in MEIP. Two Sigma Advisers LP acquired a new position in MEI Pharma during the fourth quarter worth approximately $46,000. Zacks Investment Management acquired a new position in MEI Pharma during the fourth quarter worth approximately $51,000. Knott David M increased its position in MEI Pharma by 83.8% during the fourth 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 last quarter. Bank of New York Mellon Corp increased its position in MEI Pharma by 76.7% during the fourth 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 last quarter. Finally, Virtu Financial LLC acquired a new position in MEI Pharma during the third quarter worth approximately $232,000. 56.27% of the stock is currently owned by hedge funds and other institutional investors.

About MEI Pharma

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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