$1.05 Million in Sales Expected for MEI Pharma Inc (MEIP) This Quarter
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.
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.
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