Oppenheimer Holdings Analysts Lift Earnings Estimates for MEI Pharma, Inc. (MEIP)

MEI Pharma, Inc. (NASDAQ:MEIP) – Analysts at Oppenheimer Holdings boosted their Q2 2018 earnings per share (EPS) estimates for MEI Pharma in a research note issued on Wednesday. Oppenheimer Holdings analyst L. Cann now forecasts that the company will post earnings of ($0.09) per share for the quarter, up from their prior forecast of ($0.13). Oppenheimer Holdings also issued estimates for MEI Pharma’s Q3 2018 earnings at ($0.13) EPS, Q4 2018 earnings at ($0.17) EPS, FY2018 earnings at ($0.61) EPS, Q1 2019 earnings at ($0.29) EPS, Q2 2019 earnings at ($0.32) EPS, FY2019 earnings at ($1.27) EPS, FY2020 earnings at ($1.28) EPS, FY2021 earnings at ($1.62) EPS and FY2022 earnings at ($1.10) EPS.

Separately, Zacks Investment Research downgraded MEI Pharma from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 8th.

TRADEMARK VIOLATION WARNING: “Oppenheimer Holdings Analysts Lift Earnings Estimates for MEI Pharma, Inc. (MEIP)” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be accessed at https://ledgergazette.com/2017/11/15/oppenheimer-holdings-analysts-lift-earnings-estimates-for-mei-pharma-inc-meip.html.

MEI Pharma (NASDAQ:MEIP) traded down $0.11 during trading on Monday, hitting $2.25. The stock had a trading volume of 235,900 shares, compared to its average volume of 279,308. MEI Pharma has a 52 week low of $1.34 and a 52 week high of $3.26.

MEI Pharma (NASDAQ:MEIP) last posted its earnings results on Tuesday, September 5th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.03. MEI Pharma had a negative return on equity of 3.62% and a negative net margin of 8.24%. The company had revenue of $0.45 million for the quarter, compared to the consensus estimate of $0.60 million.

A number of large investors have recently modified their holdings of the stock. Spark Investment Management LLC grew its position in MEI Pharma by 119.3% during the second 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 in the last quarter. FMR LLC grew its position in MEI Pharma by 11.2% during the first quarter. FMR LLC now owns 351,000 shares of the company’s stock worth $569,000 after buying an additional 35,476 shares in the last quarter. Goldman Sachs Group Inc. grew its position in MEI Pharma by 131.7% during the first quarter. Goldman Sachs Group Inc. now owns 80,570 shares of the company’s stock worth $131,000 after buying an additional 45,793 shares in the last quarter. Bank of Montreal Can acquired a new stake in MEI Pharma during the second quarter worth approximately $126,000. Finally, JPMorgan Chase & Co. grew its position in MEI Pharma by 2,508.7% during the second quarter. JPMorgan Chase & Co. now owns 67,825 shares of the company’s stock worth $162,000 after buying an additional 65,225 shares in the last quarter. 18.64% of the stock is currently owned by institutional investors and hedge funds.

About MEI Pharma

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 and Estimates for MEI Pharma (NASDAQ:MEIP)

Receive News & Ratings for MEI Pharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MEI Pharma Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply