
MEI Pharma (MEIP) Stock Forecast & Price Target
MEI Pharma (MEIP) Analyst Ratings
Bulls say
MEI Pharma Inc. is focused on developing novel cancer therapies, with promising clinical candidates such as Pracinostat, Zandelisib, and ME-344, potentially addressing significant unmet medical needs in various hematological malignancies and breast cancer. The company anticipates a catalyst-rich first half of calendar year 2024, with early-stage pipeline developments, including two proof-of-concept trials for voruciclib and ME-344, likely to yield preliminary data that may enhance investor confidence and drive future growth. A recent GAAP net loss of $10 million, which was better than consensus estimates, paired with ongoing shareholder activism, underscores the potential for increased value for shareholders, further supporting a positive outlook for the stock.
Bears say
MEI Pharma's financial outlook appears negatively affected by a significant reduction in revenue, with estimates dropping to $15 million, an 80% sequential decline, primarily due to the discontinuation of the Zandelisib program. The company's operating expenses (OpEx) also reflect a 55% year-over-year decrease, with research and development (R&D) spending reported at only $3 million, which raises concerns regarding the company's ongoing commitment to advancing its drug development pipeline. Additionally, the competitive landscape for its drug candidates, particularly in the context of new trials and standard treatments, adds further pressure, as evidenced by the high hurdles established in recent trials that could limit the commercial viability of MEI Pharma's offerings.
This aggregate rating is based on analysts' research of MEI Pharma and is not a guaranteed prediction by Public.com or investment advice.
MEI Pharma (MEIP) Analyst Forecast & Price Prediction
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