Analysts Issue Forecasts for MEI Pharma Inc’s Q3 2019 Earnings (MEIP)

MEI Pharma Inc (NASDAQ:MEIP) – Stock analysts at Oppenheimer issued their Q3 2019 earnings per share (EPS) estimates for MEI Pharma in a report issued on Monday, December 3rd. Oppenheimer analyst L. Cann anticipates that the company will post earnings of ($0.14) per share for the quarter. Oppenheimer also issued estimates for MEI Pharma’s Q4 2019 earnings at ($0.14) EPS.

A number of other equities research analysts have also recently issued reports on MEIP. Cann reissued a “buy” rating and issued a $7.50 price target on shares of MEI Pharma in a research note on Friday, August 31st. BidaskClub cut shares of MEI Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Finally, Zacks Investment Research cut shares of MEI Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, November 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $7.58.

MEI Pharma stock opened at $2.58 on Wednesday. MEI Pharma has a 1 year low of $1.79 and a 1 year high of $5.14. The firm has a market capitalization of $199.15 million, a P/E ratio of -3.49 and a beta of 2.18.

MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings results on Thursday, November 8th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). MEI Pharma had a negative net margin of 2,508.05% and a negative return on equity of 71.32%. The company had revenue of $0.49 million during the quarter, compared to analyst estimates of $0.38 million.

A number of institutional investors and hedge funds have recently made changes to their positions in MEIP. Keybank National Association OH acquired a new stake in MEI Pharma during the 2nd quarter worth $102,000. Citadel Advisors LLC boosted its stake in MEI Pharma by 167.3% during the 2nd quarter. Citadel Advisors LLC now owns 34,488 shares of the company’s stock worth $135,000 after purchasing an additional 21,588 shares during the last quarter. Ardsley Advisory Partners acquired a new stake in MEI Pharma during the 2nd quarter worth $197,000. Virtu Financial LLC acquired a new stake in MEI Pharma during the 3rd quarter worth $232,000. Finally, Monashee Investment Management LLC acquired a new stake in MEI Pharma during the 3rd quarter worth $322,000. 50.79% of the stock is currently owned by institutional investors.

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.

Read More: Earnings Per Share (EPS)

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

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