Oppenheimer Holdings Equities Analysts Reduce Earnings Estimates for MEI Pharma, Inc. (MEIP)
MEI Pharma, Inc. (NASDAQ:MEIP) – Research analysts at Oppenheimer Holdings decreased their Q1 2018 earnings per share (EPS) estimates for MEI Pharma in a report issued on Wednesday. Oppenheimer Holdings analyst L. Cann now forecasts that the company will post earnings of ($0.18) per share for the quarter, down from their prior estimate of ($0.10). Oppenheimer Holdings has a “Buy” rating and a $7.00 price objective on the stock. Oppenheimer Holdings also issued estimates for MEI Pharma’s FY2018 earnings at ($0.64) EPS.
MEI Pharma (NASDAQ:MEIP) last released its quarterly earnings data on Tuesday, September 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.03. The firm had revenue of $0.45 million for the quarter, compared to analysts’ expectations of $0.60 million. MEI Pharma had a net margin of 11.48% and a return on equity of 5.26%.
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Several other brokerages also recently weighed in on MEIP. Cann reaffirmed an “outperform” rating on shares of MEI Pharma in a research note on Wednesday, May 24th. Zacks Investment Research raised MEI Pharma from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a research note on Wednesday, July 19th.
Shares of MEI Pharma (MEIP) opened at 2.91 on Monday. MEI Pharma has a 52-week low of $1.34 and a 52-week high of $3.26. The stock’s 50 day moving average is $2.77 and its 200 day moving average is $2.11. The company has a market cap of $107.01 million, a PE ratio of 85.59 and a beta of 1.65.
Hedge funds have recently made changes to their positions in the company. Oxford Asset Management acquired a new position in shares of MEI Pharma during the 1st quarter worth approximately $176,000. TFS Capital LLC raised its stake in shares of MEI Pharma by 91.5% during the 1st quarter. TFS Capital LLC now owns 75,489 shares of the company’s stock worth $122,000 after buying an additional 36,078 shares during the period. Bank of Montreal Can acquired a new position in shares of MEI Pharma during the 2nd quarter worth approximately $126,000. Spark Investment Management LLC raised its stake in shares of MEI Pharma by 119.3% during the 2nd quarter. Spark Investment Management LLC now owns 62,500 shares of the company’s stock worth $149,000 after buying an additional 34,000 shares during the period. Finally, FMR LLC raised its stake in shares of MEI Pharma by 11.2% during the 1st quarter. FMR LLC now owns 351,000 shares of the company’s stock worth $569,000 after buying an additional 35,476 shares during the period. 18.00% of the stock is owned by institutional investors and hedge funds.
MEI Pharma Company Profile
MEI Pharma, Inc is an oncology company. The Company is focused on the clinical development of drugs and therapies for treatment of cancer. The Company’s portfolio of clinical drug candidates includes Pracinostat, ME-344 and PWT143. Pracinostat is an orally available histone deacetylase (HDAC) inhibitor indicated for the treatment of advanced hematologic diseases, such as acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS).
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