MEI Pharma, Inc. (NASDAQ:MEIP) to Post Q3 2023 Earnings of ($0.20) Per Share, Jefferies Financial Group Forecasts

MEI Pharma, Inc. (NASDAQ:MEIPGet Rating) – Stock analysts at Jefferies Financial Group issued their Q3 2023 earnings estimates for MEI Pharma in a research note issued on Wednesday, November 16th. Jefferies Financial Group analyst C. Howerton expects that the company will post earnings per share of ($0.20) for the quarter. The consensus estimate for MEI Pharma’s current full-year earnings is ($0.59) per share. Jefferies Financial Group also issued estimates for MEI Pharma’s Q4 2023 earnings at ($0.21) EPS, FY2023 earnings at ($0.69) EPS, FY2024 earnings at ($0.17) EPS, FY2025 earnings at ($0.15) EPS, FY2026 earnings at ($0.08) EPS and FY2027 earnings at ($0.05) EPS.

A number of other research analysts have also commented on MEIP. BTIG Research lowered their price target on MEI Pharma to $2.00 in a research report on Thursday. StockNews.com assumed coverage on MEI Pharma in a research note on Thursday. They issued a “hold” rating for the company. Finally, HC Wainwright reiterated a “buy” rating on shares of MEI Pharma in a report on Monday, September 12th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $2.86.

MEI Pharma Trading Down 3.2 %

MEI Pharma stock opened at $0.39 on Friday. The firm has a market cap of $51.97 million, a P/E ratio of -0.97 and a beta of 0.83. MEI Pharma has a 1-year low of $0.28 and a 1-year high of $3.55. The firm has a 50-day moving average of $0.38 and a 200-day moving average of $0.48.

MEI Pharma (NASDAQ:MEIPGet Rating) last announced its quarterly earnings results on Thursday, September 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.06. MEI Pharma had a negative net margin of 98.17% and a negative return on equity of 115.15%. The business had revenue of $11.41 million for the quarter, compared to analyst estimates of $7.92 million.

Institutional Investors Weigh In On MEI Pharma

Several hedge funds have recently bought and sold shares of the business. Prudential Financial Inc. purchased a new position in shares of MEI Pharma during the third quarter valued at approximately $30,000. GSA Capital Partners LLP increased its position in MEI Pharma by 111.0% during the 1st quarter. GSA Capital Partners LLP now owns 60,923 shares of the company’s stock valued at $37,000 after buying an additional 32,050 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in MEI Pharma by 483.3% during the second quarter. BNP Paribas Arbitrage SA now owns 62,963 shares of the company’s stock valued at $38,000 after buying an additional 52,169 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in MEI Pharma in the third quarter worth $39,000. Finally, Annandale Capital LLC purchased a new stake in shares of MEI Pharma in the third quarter worth $39,000. Institutional investors own 35.80% of the company’s stock.

MEI Pharma Company Profile

(Get Rating)

MEI Pharma, Inc, a late-stage pharmaceutical company, focuses on the development and commercialization of various therapies for the treatment of cancer. The company develops Zandelisib, an oral phosphatidylinositol 3-kinase delta inhibitor that is in Phase III clinical trial for the treatment of patients with relapsed/refractory follicular lymphoma, as well as in Phase Ib multi-arm trial to treat B-cell malignancies; and Voruciclib, an oral cyclin-dependent kinase 9 inhibitor, which is in Phase Ib clinical trial for acute myeloid leukemia and B-cell malignancies.

See Also

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

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