Brokerages expect MEI Pharma Inc (NASDAQ:MEIP) to report $1.05 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for MEI Pharma’s earnings. The lowest sales estimate is $350,000.00 and the highest is $2.43 million. MEI Pharma posted sales of $550,000.00 in 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 quarterly earnings results on Thursday, August 29th.

On average, analysts expect that MEI Pharma will report full year sales of $4.67 million for the current fiscal year, with estimates ranging from $4.00 million to $6.21 million. For the next financial year, analysts anticipate that the business will report sales of $16.07 million, with estimates ranging from $2.06 million to $38.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for MEI Pharma.

A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded MEI Pharma from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a research note on Thursday, April 11th. Oppenheimer restated a “buy” rating on shares of MEI Pharma in a research note on Tuesday, March 19th. BTIG Research initiated coverage on MEI Pharma in a research note on Tuesday, February 12th. They issued a “buy” rating for the company. Finally, HC Wainwright reaffirmed a “buy” rating on shares of MEI Pharma in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $8.05.

Large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. acquired a new stake in shares of MEI Pharma during the 1st quarter valued at about $47,000. Two Sigma Advisers LP acquired a new stake in shares of MEI Pharma during the 4th quarter valued at about $46,000. Algert Global LLC acquired a new stake in shares of MEI Pharma during the 1st quarter valued at about $58,000. Zacks Investment Management acquired a new stake in shares of MEI Pharma during the 4th quarter valued at about $51,000. Finally, Knott David M grew its position in shares of MEI Pharma by 83.8% during the 4th quarter. Knott David M now owns 38,590 shares of the company’s stock valued at $102,000 after acquiring an additional 17,590 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.

MEIP stock traded down $0.10 during midday trading on Thursday, reaching $3.20. The stock had a trading volume of 276,888 shares, compared to its average volume of 178,495. The firm has a market capitalization of $235.26 million, a price-to-earnings ratio of -4.32 and a beta of 1.95. MEI Pharma has a 52-week low of $1.82 and a 52-week high of $5.14.

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.

Featured Article: Support Level

Get a free copy of the Zacks research report on MEI Pharma (MEIP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for MEI Pharma (NASDAQ:MEIP)

Receive News & Ratings for MEI Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MEI Pharma and related companies with MarketBeat.com's FREE daily email newsletter.