MEI Pharma, Inc. (MEIP) Releases Earnings Results, Beats Expectations By $0.03 EPS

MEI Pharma, Inc. (NASDAQ:MEIP) issued its quarterly earnings results on Tuesday, September 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.03, Bloomberg Earnings reports. The company had revenue of $0.45 million during the quarter, compared to analyst estimates of $0.60 million. MEI Pharma had a net margin of 11.48% and a return on equity of 5.26%.

MEI Pharma (NASDAQ:MEIP) traded down 1.45% during mid-day trading on Wednesday, hitting $2.72. 23,156 shares of the stock were exchanged. The stock has a market capitalization of $100.47 million, a PE ratio of 38.86 and a beta of 1.65. The company has a 50-day moving average of $2.76 and a 200-day moving average of $2.13. MEI Pharma has a 52 week low of $1.34 and a 52 week high of $3.26.

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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Spark Investment Management LLC increased its holdings in MEI Pharma by 119.3% in the 2nd quarter. Spark Investment Management LLC now owns 62,500 shares of the company’s stock worth $149,000 after acquiring an additional 34,000 shares in the last quarter. FMR LLC increased its holdings in MEI Pharma by 11.2% in the 1st quarter. FMR LLC now owns 351,000 shares of the company’s stock worth $569,000 after acquiring an additional 35,476 shares in the last quarter. TFS Capital LLC increased its holdings in MEI Pharma by 91.5% in the 1st quarter. TFS Capital LLC now owns 75,489 shares of the company’s stock worth $122,000 after acquiring an additional 36,078 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in MEI Pharma by 131.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 80,570 shares of the company’s stock worth $131,000 after acquiring an additional 45,793 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in MEI Pharma in the 2nd quarter worth $126,000. 18.00% of the stock is owned by institutional investors.

Several research analysts recently commented on the stock. Oppenheimer Holdings, Inc. set a $7.00 price objective on shares of MEI Pharma and gave the stock a “buy” rating in a report on Wednesday, June 14th. Cann reissued a “buy” rating and issued a $6.50 price target on shares of MEI Pharma in a report on Monday, June 26th. Finally, Zacks Investment Research raised shares of MEI Pharma from a “hold” rating to a “strong-buy” rating and set a $3.25 price target for the company in a report on Saturday.

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).

Earnings History for MEI Pharma (NASDAQ:MEIP)

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