MEI Pharma Inc. (MEIP) 2020 Stock Forecast: Bullish Outlook with 77.85% Upside

MEI Pharma Inc. (NASDAQ: MEIP) is 16.13% higher on its value in year-to-date trading and has touched a low of $0.72 and a high of $4.46 in the current 52-week trading range. The MEIP stock was last observed hovering at around $3.00 in the last trading session, with the day’s loss setting it -0.12% off its average median price target of $9.50 for the next 12 months. It is also 77.85% off the consensus price target high of $13.00 offered by 8 analysts, but current levels are 47.64% higher than the price target low of $5.50 for the same period.

Currently trading at $2.88, the stock is -3.14% and -16.61% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.09 million and changing -4.00% at the moment leaves the stock 16.13% off its SMA200. MEIP registered 83.44% gain for a year compared to 6-month gain of 31.51%. The firm has a 50-day simple moving average (SMA 50) of $3.2971 and a 200-day simple moving average (SMA200) of $2.6840.

The stock witnessed a -17.71% loss in the last 1 month and extending the period to 3 months gives it a -2.87%, and is 5.88% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 7.74% over the week and 6.96% over the month.

MEI Pharma Inc. (MEIP) has around 40 employees, a market worth around $298.68M and $4.50M in sales. Distance from 52-week low is 300.00% and -35.40% from its 52-week high. The company has generated returns on investments over the last 12 months (-96.50%).

MEI Pharma Inc. (MEIP) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for MEI Pharma Inc. (MEIP) is a “Buy”. 8 analysts offering their recommendations for the stock have an average rating of 1.70, where 0 rate it as a Hold and 0 think it is a “Overweight”. 8 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

MEI Pharma Inc. is expected to release its quarterly report on 09/02/2020 and quarterly earnings per share for the current quarter are estimated at $0.21 with sales reaching $45.07M over the same period.The EPS is expected to grow by 75.60% this year, but quarterly earnings will post 885.10% year-over-year. Quarterly sales are estimated to grow 3,892.00% in year-over-year returns.

MEI Pharma Inc. (MEIP) Top Institutional Holders

112 institutions hold shares in MEI Pharma Inc. (MEIP), with 3.18M shares held by insiders accounting for 3.00% while institutional investors hold 71.54% of the company’s shares. The shares outstanding are 106.00M, and float is at 99.65M with Short Float at 5.98%. Institutions hold 69.40% of the Float.

MEI Pharma Inc. (MEIP) Insider Activity

A total of 3 insider transactions have happened at MEI Pharma Inc. (MEIP) in the last six months, with sales accounting for 0 and purchases happening 3 times. The most recent transaction is an insider purchase by Reynolds Thomas C, the company’s Director. SEC filings show that Reynolds Thomas C bought 10,000 shares of the company’s common stock on Dec 19 at a price of $1.60 per share for a total of $16000.0. Following the purchase, the insider now owns 10000.0 shares.

MEI Pharma Inc. disclosed in a document filed with the SEC on Dec 19 that DRISCOLL FREDERICK W (Director) bought a total of 62,500 shares of the company’s common stock. The trade occurred on Dec 19 and was made at $1.60 per share for $100000.0. Following the transaction, the insider now directly holds 62500.0 shares of the MEIP stock.

Still, SEC filings show that on Dec 19, GOLD DANIEL P PHD (Chief Executive Officer) acquired 18,750 shares at an average price of $1.60 for $30000.0. The insider now directly holds 361,632 shares of MEI Pharma Inc. (MEIP).

MEI Pharma Inc. (MEIP): Who are the competitors?

The company’s main competitors (and peers) include Savara Inc. (SVRA) that is -17.83% lower over the past 12 months. Ligand Pharmaceuticals Incorporated (LGND) is 20.94% up on the 1-year trading charts. Short interest in the company’s stock has fallen -9.76% from the last report on Jun 29, 2020 to stand at a total of 6.41 million short shares sold with a short interest ratio of 3.06.