MEI Pharma Inc (MEIP) Expected to Post Quarterly Sales of $1.05 Million
Brokerages predict that MEI Pharma Inc (NASDAQ:MEIP) will announce $1.05 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for MEI Pharma’s earnings. The highest sales estimate is $2.43 million and the lowest is $350,000.00. MEI Pharma reported sales of $550,000.00 during the same quarter last year, which indicates a positive year-over-year growth rate of 90.9%. The firm is scheduled to report its next earnings report on Thursday, August 29th.
On average, analysts expect that MEI Pharma will report full year sales of $4.41 million for the current fiscal year, with estimates ranging from $3.00 million to $6.21 million. For the next year, analysts anticipate that the business will post sales of $16.07 million, with estimates ranging from $2.06 million to $38.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for MEI Pharma.
MEIP has been the topic of a number of analyst reports. Zacks Investment Research upgraded MEI Pharma from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a report on Thursday, April 11th. Oppenheimer reiterated a “buy” rating on shares of MEI Pharma in a report on Tuesday, March 19th. HC Wainwright reiterated a “buy” rating on shares of MEI Pharma in a report on Friday, May 10th. Finally, BTIG Research initiated coverage on MEI Pharma in a report on Tuesday, February 12th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $8.05.
Several institutional investors have recently bought and sold shares of MEIP. Perceptive Advisors LLC acquired a new stake in shares of MEI Pharma in the 4th quarter worth $11,617,000. Vanguard Group Inc boosted its position in shares of MEI Pharma by 70.0% in the 3rd quarter. Vanguard Group Inc now owns 2,342,115 shares of the company’s stock worth $10,095,000 after purchasing an additional 964,033 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of MEI Pharma by 70.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,342,115 shares of the company’s stock worth $10,095,000 after purchasing an additional 964,033 shares in the last quarter. Fosun International Ltd acquired a new stake in shares of MEI Pharma in the 4th quarter worth $801,000. Finally, Wasatch Advisors Inc. boosted its position in shares of MEI Pharma by 52.2% in the 1st quarter. Wasatch Advisors Inc. now owns 1,109,571 shares of the company’s stock worth $3,406,000 after purchasing an additional 380,531 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.
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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