MEI Pharma, Inc. (MEIP) Stories Q2 Loss, Tops Income Estimates

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This story initially appeared on Zacks

MEI Pharma, Inc. (MEIP) got here out with a quarterly lack of $0.13 per share versus the Zacks Consensus Estimate of a lack of $0.19. This compares to lack of $0.22 per share a 12 months in the past. These figures are adjusted for non-recurring gadgets.

– Zacks

This quarterly report represents an earnings shock of 31.58%. 1 / 4 in the past, it was anticipated that this firm would publish a lack of $0.13 per share when it truly produced a lack of $0.13, delivering no shock.

During the last 4 quarters, the corporate has surpassed consensus EPS estimates two instances.

MEI Pharma, Inc., which belongs to the Zacks Medical – Medication business, posted revenues of $18.22 million for the quarter ended December 2021, surpassing the Zacks Consensus Estimate by 139.26%. This compares to year-ago revenues of $9.17 million. The corporate has topped consensus income estimates 3 times over the past 4 quarters.

The sustainability of the inventory’s instant value motion primarily based on the recently-released numbers and future earnings expectations will largely rely on administration’s commentary on the earnings name.

MEI Pharma, Inc. Shares have misplaced about 28.5% because the starting of the 12 months versus the S&P 500’s decline of -3.8%.

What’s Subsequent for MEI Pharma, Inc.

Whereas MEI Pharma, Inc. Has underperformed the market thus far this 12 months, the query that involves buyers’ minds is: what’s subsequent for the inventory?

There are not any straightforward solutions to this key query, however one dependable measure that may assist buyers deal with that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified currently.

Empirical analysis reveals a robust correlation between near-term inventory actions and developments in earnings estimate revisions. Traders can observe such revisions by themselves or depend on a tried-and-tested ranking device just like the Zacks Rank, which has a powerful observe file of harnessing the ability of earnings estimate revisions.

Forward of this earnings launch, the estimate revisions pattern for MEI Pharma, Inc. Combined. Whereas the magnitude and route of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out in step with the market within the close to future. You may see the entire checklist of right now’s Zacks #1 Rank (Robust Purchase) shares right here.

Will probably be attention-grabbing to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is -$0.18 on $15.4 million in revenues for the approaching quarter and -$0.62 on $35.32 million in revenues for the present fiscal 12 months.

Traders ought to be conscious of the truth that the outlook for the business can have a fabric affect on the efficiency of the inventory as properly. By way of the Zacks Trade Rank, Medical – Medication is presently within the backside 42% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.

Assertio (ASRT), one other inventory in the identical business, has but to report outcomes for the quarter ended December 2021.

This drugmaker is anticipated to publish quarterly earnings of $0.05 per share in its upcoming report, which represents a year-over-year change of -58.3%. The consensus EPS estimate for the quarter has remained unchanged over the past 30 days.

Assertio’s revenues are anticipated to be $26.35 million, down 12.7% from the year-ago quarter.

7 Greatest Shares for the Subsequent 30 Days

Simply launched: Consultants distill 7 elite shares from the present checklist of 220 Zacks Rank #1 Robust Buys. They deem these tickers “Most Possible for Early Value Pops.”

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MEI Pharma, Inc. (MEIP): Free Inventory Evaluation Report
 
Assertio Holdings, Inc. (ASRT): Free Inventory Evaluation Report
 
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