In the last trading session, 2,045,967 shares of the MEI Pharma, Inc. (NASDAQ:MEIP) were traded, and its beta was 1.49. Most recently the company’s share price was $3.54, and it changed around -$0.1 or -0.03% from the last close, which brings the market valuation of the company to $398.35 Million. MEIP currently trades at a discount to its 52-week high of $4.58, offering almost -29.38% off that amount. The share price’s 52-week low was $1.49, which indicates that the current value has risen by an impressive 57.91% since then. We note from MEI Pharma, Inc.’s average daily trading volume that its 10-day average is 580.17 Million shares, with the 3-month average coming to 965.63 Million.
MEI Pharma, Inc. stock received a consensus recommendation rating of Buy, based on a mean score of 1.8. If we narrow it down even further, the data shows that none out of 9 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, no body recommended MEIP as a Hold, whereas 9 deemed it a Buy, and no one rated it as Underweight. MEI Pharma, Inc. is expected to report earnings per share of -$0.15 for the current quarter.
MEI Pharma, Inc. (NASDAQ:MEIP): Trading Information
Although MEIP has showed a red trend with a performance of -2.75% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $3.80- on Monday, Apr 05 increased the stock’s daily price by 6.84%. The company’s shares are currently up 0.34% year-to-date, but still up 0.096 over the last five days. On the other hand, MEI Pharma, Inc. (NASDAQ:MEIP) is -0.03% down in the 30-day period. We can see from the shorts that 9.71 Million shares have been sold at a short interest cover period of 0.01 day (s).
The consensus price target as assigned by Wall Street analysts is $9.67, which translates to bears needing to increase their stock price by 173.16% from its current value. Analyst projections state that MEIP is forecast to be at a low of $5.5 and a high of $13. In order for the stock price to hit the forecast high, the stock would need to surge +267.23% from its current level, while the stock would need to crash 55.37% from its current level to reach the projected low.
MEI Pharma, Inc. (MEIP) projections and forecasts
MEI Pharma, Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +16.07 percent over the past six months and at a 76.92% annual growth rate that is well above the industry average of 17.3%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -275% in revenue this quarter, and will report an increase of 15.8% in the next quarter. The year-over-year growth rate is expected to be -26.9%, down from the previous year.
Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $6.25 Million in revenue for the current quarter. 5 analysts expect MEI Pharma, Inc. to make $5.97 Million in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarters a year ago were $1.24 Million and $25.5 Million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 402.4%. Forecasts for the next quarter put sales growth at -76.6%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 15.3%. MEI Pharma, Inc. earnings are expected to decrease by -113.7% in 2021, but the outlook is negative -0.1% per year for the next five years.
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MEI Pharma, Inc. (NASDAQ:MEIP)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 2.82% of MEI Pharma, Inc. shares, and 69.36% of them are in the hands of institutional investors. The stock currently has a share float of 71.38%. MEI Pharma, Inc. stock is held by 146 institutions, with MPM ONCOLOGY IMPACT MANAGEMENT LP being the largest institutional investor. By Dec 30, 2020, it held 9.01% of the shares, which is about 10.14 Million shares worth $26.76 Million.
NEA Management Company, LLC, with 7.58% or 8.53 Million shares worth $22.53 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Wasatch Ultra Growth Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Dec 30, 2020. The former held 3447274 shares worth $9.1 Million, making up 3.06% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 3.36 Million shares worth around $8.88 Million, which represents about 2.99% of the total shares outstanding.