Analysts expect MEI Pharma Inc (NASDAQ:MEIP) to report sales of $1.01 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for MEI Pharma’s earnings, with the highest sales estimate coming in at $2.28 million and the lowest estimate coming in at $350,000.00. MEI Pharma posted sales of $430,000.00 during the same quarter last year, which would indicate a positive year-over-year growth rate of 134.9%. The company is expected to report its next earnings report on Wednesday, May 8th.
On average, analysts expect that MEI Pharma will report full year sales of $4.26 million for the current fiscal year, with estimates ranging from $3.00 million to $7.24 million. For the next year, analysts expect that the firm will report sales of $16.07 million, with estimates ranging from $2.06 million to $38.00 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for MEI Pharma.
MEI Pharma (NASDAQ:MEIP) last announced its quarterly earnings results on Thursday, February 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.01). MEI Pharma had a negative return on equity of 77.29% and a negative net margin of 1,454.51%. The company had revenue of $2.05 million for the quarter, compared to the consensus estimate of $3.05 million.
Several equities research analysts recently issued reports on MEIP shares. BTIG Research started coverage on MEI Pharma in a report on Tuesday, February 12th. They set a “buy” rating for the company. Oppenheimer reiterated a “buy” rating on shares of MEI Pharma in a report on Tuesday, March 19th. Finally, Zacks Investment Research upgraded MEI Pharma from a “hold” rating to a “buy” rating and set a $3.75 price target for the company in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. MEI Pharma presently has an average rating of “Buy” and an average target price of $8.05.
Shares of MEI Pharma stock opened at $3.00 on Tuesday. MEI Pharma has a 12-month low of $1.82 and a 12-month high of $5.14. The firm has a market cap of $213.45 million, a P/E ratio of -4.05 and a beta of 1.98.
Large investors have recently made changes to their positions in the business. Vanguard Group Inc grew its stake in MEI Pharma by 70.0% in the 3rd quarter. Vanguard Group Inc now owns 2,342,115 shares of the company’s stock valued at $10,095,000 after purchasing an additional 964,033 shares during the period. Renaissance Technologies LLC grew its stake in MEI Pharma by 0.8% in the 3rd quarter. Renaissance Technologies LLC now owns 2,236,480 shares of the company’s stock valued at $9,639,000 after purchasing an additional 17,667 shares during the period. Macquarie Group Ltd. grew its stake in MEI Pharma by 48.1% in the 3rd quarter. Macquarie Group Ltd. now owns 385,000 shares of the company’s stock valued at $1,659,000 after purchasing an additional 125,000 shares during the period. Perceptive Advisors LLC bought a new position in MEI Pharma in the 4th quarter valued at $11,617,000. Finally, Barclays PLC grew its stake in MEI Pharma by 858.1% in the 4th quarter. Barclays PLC now owns 237,606 shares of the company’s stock valued at $627,000 after purchasing an additional 212,806 shares during the period. Hedge funds and other institutional investors own 56.48% of the company’s stock.
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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