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Why MEI Pharma Inc. (NASDAQ: MEIP) Should Be Included On Your Watchlist

MEI Pharma Inc. (NASDAQ:MEIP)’s traded shares stood at 1.03 million during the last session, with the company’s beta value hitting 1.00. At the close of trading, the stock’s price was $0.25. The MEIP share’s 52-week high remains $1.94, putting it -676.0% down since that peak but still an impressive 20.0% since price per share fell to its 52-week low of $0.20. The company has a valuation of $34.17M, with an average of 1.89 million shares in intraday trading volume over the past 10 days and average of 1.10 million shares over the past 3 months.

Analysts have given a consensus recommendation of an Overweight for MEI Pharma Inc. (MEIP), translating to a mean rating of 2.90. Of 6 analyst(s) looking at the stock, 1 analyst(s) give MEIP a Sell rating. 0 of those analysts rate the stock as Overweight while 2 advise Hold as 3 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.14.

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MEI Pharma Inc. (NASDAQ:MEIP) trade information

MEI Pharma Inc. (MEIP) has traded red over the past five days. The stock hit a weekly high of 0.2600 this Wednesday, 03/15/23. The 5-day price performance for the stock is 5.49%, and -16.94% over 30 days. With these gigs, the year-to-date price performance is 2.63%. Short interest in MEI Pharma Inc. (NASDAQ:MEIP) saw shorts transact 3.48 million shares and set a 6.51 days time to cover.

Analysts on Wall Street suggest a consensus price target of $1.72, implying an increase of 85.47% to the stock’s current value. The extremes give us $0.10 and $4.00 for target low and target high price respectively. As such, MEIP has been trading -1500.0% off suggested target high and 60.0% from its likely low.

MEI Pharma Inc. (MEIP) estimates and forecasts

Looking at statistics comparing MEI Pharma Inc. share performance against respective industry, we note that the company has outperformed competitors. MEI Pharma Inc. (MEIP) shares are -49.28% down over the last 6 months, with its year-to-date growth rate higher than industry average at 59.70% against 11.00%. Revenue is forecast to shrink -100.00% this quarter before falling -25.00% for the next one. The rating firms project that company’s revenue will shrink -49.60% compared to the previous financial year.

Revenue forecast for the current quarter as set by 5 analysts is $5.08 million. Meanwhile, for the quarter ending Jun 2023, a total of 5 analyst(s) estimate revenue growth to $5.54 million.Earnings reports from the last fiscal year show that sales brought in $9.69 million and $11.41 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -47.60% before dropping -51.50% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -51.80% for the past 5-year period. While 2023 is set for a -19.20% return in earnings, projections for the next 5 years are at -0.10% annually.

MEIP Dividends

MEI Pharma Inc. has its next earnings report out between May 22 and May 26. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. MEI Pharma Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

MEI Pharma Inc. (NASDAQ:MEIP)’s Major holders

MEI Pharma Inc. insiders hold 0.48% of total outstanding shares, with institutional holders owning 37.22% of the shares at 37.40% float percentage. In total, 37.22% institutions holds shares in the company, led by NEA Management Company, LLC. As of Sep 29, 2022, the company held over 8.53 million shares (or 6.40% of shares), all amounting to roughly $3.3 million.

The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 7.67 million shares, or about 5.75% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $2.96 million.

We also have Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund as the top two Mutual Funds with the largest holdings of the MEI Pharma Inc. (MEIP) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 4.02 million shares. This is just over 3.02% of the total shares, with a market valuation of $1.55 million. Data from the same date shows that the other fund manager holds a little less at 1.46 million, or 1.10% of the shares, all valued at about 0.57 million.

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