What Will Happen to MEI Pharma, Inc. (MEIP) Next? The Stock Formed a Several Months Double Bottom Chart Pattern

May 27, 2018 - By Nellie Frank

The chart of MEI Pharma, Inc. (MEIP) shows a double bottom with $3.04 target or 3.00 % below today’s $3.13 share price. The 8 months chart pattern indicates high risk for the $116.82M company. It was reported on May, 27 by Finviz.com. If the $3.04 price target is reached, the company will be worth $3.50M less. Double bottoms are rare but powerful chart patterns.

The stock decreased 0.95% or $0.03 during the last trading session, reaching $3.13. About 476,616 shares traded or 74.36% up from the average. MEI Pharma, Inc. (NASDAQ:MEIP) has risen 32.91% since May 27, 2017 and is uptrending. It has outperformed by 21.36% the S&P500.

Analysts await MEI Pharma, Inc. (NASDAQ:MEIP) to report earnings on September, 4. They expect $-0.28 earnings per share, down 133.33 % or $0.16 from last year’s $-0.12 per share. After $-0.16 actual earnings per share reported by MEI Pharma, Inc. for the previous quarter, Wall Street now forecasts 75.00 % negative EPS growth.

Another recent and important MEI Pharma, Inc. (NASDAQ:MEIP) news was published by Streetinsider.com which published an article titled: “MEI Pharma (MEIP) Reports $75M Private Placement of Common Stock, Warrants” on May 14, 2018.

MEI Pharma, Inc., an oncology company, focuses on the clinical development of drugs for the treatment of cancer. The company has market cap of $116.82 million. The companyÂ’s clinical drug candidate includes Pracinostat, an orally available histone deacetylase inhibitor for the treatment of patients with acute myeloid leukemia and myelodysplastic syndrome. It currently has negative earnings. The Company’s clinical development portfolio also includes ME-401, an oral inhibitor of phosphatidylinositide 3-kinase delta for the treatment of patients with relapsed/refractory chronic lymphocytic leukemia or follicular lymphoma; and ME-344, an isoflavone-derived mitochondrial inhibitor for the treatment of HER2-negative breast cancer.

MEI Pharma, Inc. (NASDAQ:MEIP) Institutional Positions Chart

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