$1.01 Million in Sales Expected for MEI Pharma Inc (MEIP) This Quarter

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Equities analysts expect MEI Pharma Inc (NASDAQ:MEIP) to post $1.01 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for MEI Pharma’s earnings, with the lowest sales estimate coming in at $350,000.00 and the highest estimate coming in at $2.28 million. 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 announce its next quarterly earnings results on Wednesday, May 8th.

According to Zacks, analysts expect that MEI Pharma will report full-year sales of $4.26 million for the current year, with estimates ranging from $3.00 million to $7.24 million. For the next fiscal year, analysts anticipate that the firm will post sales of $16.07 million, with estimates ranging from $2.06 million to $38.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow MEI Pharma.

MEI Pharma (NASDAQ:MEIP) last announced its quarterly earnings data on Thursday, February 7th. The company reported ($0.15) earnings per share for the quarter, missing the 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 business had revenue of $2.05 million for the quarter, compared to the consensus estimate of $3.05 million.

Several analysts recently weighed in on the company. HC Wainwright assumed coverage on MEI Pharma in a research report on Thursday, December 20th. They set a “buy” rating and a $10.00 price objective for the company. restated a “buy” rating and set a $7.50 price objective on shares of MEI Pharma in a research report on Monday, December 3rd. BTIG Research assumed coverage on MEI Pharma in a research report on Tuesday, February 12th. They set a “buy” rating for the company. Finally, Zacks Investment Research downgraded MEI Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $8.08.

Shares of MEIP stock traded down $0.01 on Friday, hitting $3.08. 152,831 shares of the company’s stock were exchanged, compared to its average volume of 223,098. MEI Pharma has a 12 month low of $1.82 and a 12 month high of $5.14. The company has a market cap of $222.70 million, a P/E ratio of -4.16 and a beta of 1.96.

Institutional investors have recently bought and sold shares of the business. Two Sigma Advisers LP bought a new position in MEI Pharma in the fourth quarter valued at about $46,000. Zacks Investment Management bought a new position in MEI Pharma in the fourth quarter valued at about $51,000. Knott David M raised its position in MEI Pharma by 83.8% in the fourth quarter. Knott David M now owns 38,590 shares of the company’s stock valued at $102,000 after purchasing an additional 17,590 shares during the last quarter. Bank of New York Mellon Corp raised its position in MEI Pharma by 76.7% in the fourth quarter. Bank of New York Mellon Corp now owns 39,017 shares of the company’s stock valued at $103,000 after purchasing an additional 16,932 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in MEI Pharma in the third quarter valued at about $232,000. Hedge funds and other institutional investors own 56.27% 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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