MEI Pharma (NASDAQ:MEIP) issued its earnings results on Wednesday, August 28th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.18, Morningstar.com reports. MEI Pharma had a negative return on equity of 76.61% and a negative net margin of 819.04%. The company had revenue of $1.13 million for the quarter, compared to analysts’ expectations of $1.05 million.
MEIP stock opened at $2.01 on Friday. The firm has a market capitalization of $136.16 million, a PE ratio of -3.24 and a beta of 1.68. The stock has a 50-day simple moving average of $1.67 and a two-hundred day simple moving average of $2.53. MEI Pharma has a twelve month low of $1.44 and a twelve month high of $4.80.
In other MEI Pharma news, Director Christine Anna White purchased 15,000 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $1.74 per share, for a total transaction of $26,100.00. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $26,100. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.01% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Two Sigma Advisers LP bought a new stake in MEI Pharma in the fourth quarter valued at approximately $46,000. Cubist Systematic Strategies LLC bought a new stake in MEI Pharma in the second quarter valued at approximately $46,000. A.R.T. Advisors LLC lifted its position in MEI Pharma by 55.6% in the second quarter. A.R.T. Advisors LLC now owns 22,117 shares of the company’s stock valued at $55,000 after purchasing an additional 7,900 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in MEI Pharma in the second quarter valued at approximately $56,000. Finally, Algert Global LLC bought a new stake in MEI Pharma in the first quarter valued at approximately $58,000. Institutional investors own 64.47% of the company’s stock.
Several equities analysts have weighed in on MEIP shares. HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of MEI Pharma in a research note on Monday, June 24th. Zacks Investment Research upgraded MEI Pharma from a “hold” rating to a “buy” rating and set a $2.00 target price on the stock in a research note on Tuesday, September 3rd. Finally, ValuEngine cut MEI Pharma from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $6.50.
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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