Oppenheimer Holdings Weighs in on MEI Pharma, Inc.’s Q2 2018 Earnings (MEIP)

MEI Pharma, Inc. (NASDAQ:MEIP) – Analysts at Oppenheimer Holdings raised their Q2 2018 EPS estimates for MEI Pharma in a research report issued on Wednesday. Oppenheimer Holdings analyst L. Cann now expects that the company will post earnings of ($0.09) per share for the quarter, up from their previous 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 upgraded shares of MEI Pharma from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a research note on Wednesday, July 19th.

WARNING: “Oppenheimer Holdings Weighs in on MEI Pharma, Inc.’s Q2 2018 Earnings (MEIP)” was originally posted by TrueBlueTribune and is owned by of TrueBlueTribune. If you are accessing this piece on another publication, it was stolen and republished in violation of United States & international trademark and copyright laws. The correct version of this piece can be read at https://www.truebluetribune.com/2017/11/14/oppenheimer-holdings-weighs-in-on-mei-pharma-inc-s-q2-2018-earnings-meip.html.

MEI Pharma (MEIP) traded down $0.11 on Monday, reaching $2.36. 122,600 shares of the company’s stock traded hands, compared to its average volume of 279,506. MEI Pharma has a 12 month low of $1.34 and a 12 month high of $3.26.

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, topping the consensus estimate of ($0.15) by $0.03. MEI Pharma had a negative net margin of 8.24% and a negative return on equity of 3.62%. The company had revenue of $0.45 million during the quarter, compared to the consensus estimate of $0.60 million.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MEIP. OxFORD Asset Management LLP lifted its position in shares of MEI Pharma by 116.2% during the second quarter. OxFORD Asset Management LLP now owns 235,025 shares of the company’s stock worth $562,000 after purchasing an additional 126,303 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of 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 purchasing an additional 65,225 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of MEI Pharma during the second quarter worth $126,000. Spark Investment Management LLC lifted its position in shares of 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 purchasing an additional 34,000 shares in the last quarter. Finally, FMR LLC lifted its position in shares of 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 purchasing an additional 35,476 shares in the last quarter. Institutional investors own 18.64% of the company’s stock.

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 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.

Latest News

Leave a Reply