MEI Pharma Inc (NASDAQ:MEIP) – Oppenheimer issued their FY2019 EPS estimates for MEI Pharma in a research note issued on Monday, November 5th. Oppenheimer analyst L. Cann forecasts that the company will post earnings per share of ($0.40) for the year. Oppenheimer also issued estimates for MEI Pharma’s FY2020 earnings at ($0.42) EPS, FY2021 earnings at ($0.28) EPS, FY2022 earnings at $0.51 EPS and FY2023 earnings at $2.86 EPS.
A number of other research firms also recently weighed in on MEIP. Cann reiterated a “buy” rating and issued a $7.50 price target on shares of MEI Pharma in a research report on Thursday, October 11th. BidaskClub downgraded shares of MEI Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. Stifel Nicolaus upgraded shares of MEI Pharma from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Thursday, July 26th. Zacks Investment Research downgraded shares of MEI Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Finally, SunTrust Banks started coverage on shares of MEI Pharma in a research report on Friday, July 13th. They issued a “buy” rating and a $12.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. MEI Pharma presently has an average rating of “Buy” and an average target price of $7.58.
NASDAQ MEIP opened at $3.42 on Thursday. MEI Pharma has a 1-year low of $1.79 and a 1-year high of $5.14. The company has a market capitalization of $236.81 million, a PE ratio of -4.62 and a beta of 2.19.
MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings results on Thursday, August 30th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.14). MEI Pharma had a negative net margin of 2,470.28% and a negative return on equity of 67.76%. The business had revenue of $0.55 million during the quarter, compared to analyst estimates of $0.46 million.
Large investors have recently made changes to their positions in the stock. Bailard Inc. bought a new position in MEI Pharma in the second quarter valued at approximately $571,000. Keybank National Association OH bought a new position in MEI Pharma in the second quarter valued at approximately $102,000. NEA Management Company LLC bought a new position in MEI Pharma in the second quarter valued at approximately $22,539,000. Macquarie Group Ltd. bought a new position in MEI Pharma in the second quarter valued at approximately $1,024,000. Finally, Sio Capital Management LLC increased its stake in MEI Pharma by 133.7% in the second quarter. Sio Capital Management LLC now owns 2,183,986 shares of the company’s stock valued at $8,605,000 after acquiring an additional 1,249,423 shares during the last quarter. 51.12% of the stock is currently 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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