SunTrust Banks Weighs in on MEI Pharma Inc’s Q2 2019 Earnings (MEIP)

MEI Pharma Inc (NASDAQ:MEIP) – Research analysts at SunTrust Banks issued their Q2 2019 earnings estimates for MEI Pharma in a research note issued on Wednesday, November 28th. SunTrust Banks analyst P. Lawson forecasts that the company will earn ($0.11) per share for the quarter. SunTrust Banks also issued estimates for MEI Pharma’s Q3 2019 earnings at ($0.12) EPS, Q4 2019 earnings at ($0.13) EPS, FY2019 earnings at ($0.56) EPS, FY2020 earnings at ($0.86) EPS, FY2021 earnings at ($1.14) EPS, FY2022 earnings at ($1.33) EPS and FY2023 earnings at ($1.06) EPS.

MEI Pharma (NASDAQ:MEIP) last issued its earnings results on Thursday, August 30th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.14). MEI Pharma had a negative return on equity of 71.32% and a negative net margin of 2,508.05%. The company had revenue of $0.55 million during the quarter, compared to the consensus estimate of $0.46 million.

Other equities analysts have also recently issued reports about the company. Cann reaffirmed a “buy” rating and issued a $7.50 price target on shares of MEI Pharma in a research note on Thursday, October 11th. BidaskClub lowered MEI Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. Finally, Zacks Investment Research lowered MEI Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, November 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $7.58.

NASDAQ:MEIP opened at $2.88 on Monday. MEI Pharma has a twelve month low of $1.79 and a twelve month high of $5.14. The stock has a market capitalization of $204.84 million, a price-to-earnings ratio of -3.89 and a beta of 2.19.

A number of hedge funds have recently modified their holdings of MEIP. Keybank National Association OH purchased a new stake in shares of MEI Pharma in the second quarter worth approximately $102,000. Citadel Advisors LLC boosted its position in MEI Pharma by 167.3% during the 2nd quarter. Citadel Advisors LLC now owns 34,488 shares of the company’s stock valued at $135,000 after acquiring an additional 21,588 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of MEI Pharma in the 3rd quarter worth $232,000. Ardsley Advisory Partners acquired a new stake in shares of MEI Pharma in the 2nd quarter worth $197,000. Finally, Monashee Investment Management LLC acquired a new stake in shares of MEI Pharma in the 3rd quarter worth $322,000. Institutional investors and hedge funds own 49.69% 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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