MEI Pharma (MEIP) Announces Quarterly Earnings Results, Misses Estimates By $0.14 EPS
MEI Pharma (NASDAQ:MEIP) released its earnings results on Thursday. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.14), Bloomberg Earnings reports. MEI Pharma had a negative net margin of 1,651.87% and a negative return on equity of 60.75%.
MEIP stock opened at $4.49 on Friday. MEI Pharma has a 12-month low of $1.79 and a 12-month high of $5.14.
Several equities analysts recently issued reports on the stock. Cann restated a “buy” rating and issued a $7.50 target price on shares of MEI Pharma in a report on Friday. SunTrust Banks assumed coverage on shares of MEI Pharma in a report on Friday, July 13th. They issued a “buy” rating and a $12.00 target price on the stock. Zacks Investment Research lowered shares of MEI Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. Stifel Nicolaus upgraded shares of MEI Pharma from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Thursday, July 26th. Finally, Wells Fargo & Co upgraded shares of MEI Pharma from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 6th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $7.58.
About MEI Pharma
MEI Pharma, Inc, an oncology company, focuses on the clinical development of drugs for the treatment of cancer. The company's clinical drug candidate includes Pracinostat, an orally available histone deacetylase inhibitor for the treatment of patients with acute myeloid leukemia and myelodysplastic syndrome.
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