MEI Pharma, Inc. (NASDAQ:MEIP) – Research analysts at Truist Securiti lowered their FY2022 earnings per share (EPS) estimates for MEI Pharma in a note issued to investors on Wednesday, September 8th. Truist Securiti analyst R. Karnauskas now expects that the company will post earnings per share of ($0.68) for the year, down from their prior forecast of ($0.66). Truist Securiti also issued estimates for MEI Pharma’s FY2023 earnings at ($0.83) EPS, FY2024 earnings at ($0.39) EPS, FY2025 earnings at ($0.17) EPS and FY2026 earnings at $0.05 EPS.
Several other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of MEI Pharma from a “hold” rating to a “sell” rating in a report on Thursday, September 9th. Truist Securities lowered their target price on shares of MEI Pharma from $12.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, September 9th. HC Wainwright reissued a “buy” rating and set a $10.00 price target on shares of MEI Pharma in a report on Friday, September 3rd. Rowe upped their price objective on MEI Pharma from $11.50 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, September 7th. Finally, BTIG Research reissued a “buy” rating and set a $9.00 target price on shares of MEI Pharma in a research note on Sunday, September 5th. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $10.67.
MEI Pharma (NASDAQ:MEIP) last issued its quarterly earnings data on Tuesday, September 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.12. MEI Pharma had a negative net margin of 198.06% and a negative return on equity of 80.62%.
A number of institutional investors have recently made changes to their positions in the stock. Natixis purchased a new position in MEI Pharma during the 2nd quarter valued at approximately $30,000. Jane Street Group LLC purchased a new position in shares of MEI Pharma in the first quarter valued at $35,000. Brown Advisory Securities LLC bought a new stake in MEI Pharma in the first quarter worth $51,000. Nisa Investment Advisors LLC purchased a new stake in MEI Pharma during the second quarter valued at $45,000. Finally, SG Americas Securities LLC lifted its position in MEI Pharma by 48.8% during the first quarter. SG Americas Securities LLC now owns 19,748 shares of the company’s stock valued at $68,000 after purchasing an additional 6,473 shares during the last quarter. 61.19% of the stock is owned by institutional investors.
About MEI Pharma
MEI Pharma, Inc is a pharmaceutical company, which engages in the clinical development of therapies for cancer. Its drug candidates include Pracinostat, an oral HDAC inhibitor that is being developed in combination with azacitidine for the treatment of acute myeloid leukemia and myelodysplastic syndrome.
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