Wall Street analysts expect that Mirati Therapeutics, Inc. (NASDAQ:MRTX) will report earnings of ($0.75) per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Mirati Therapeutics’ earnings, with the highest EPS estimate coming in at ($0.68) and the lowest estimate coming in at ($0.85). Mirati Therapeutics posted earnings of ($0.99) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 24.2%. The firm is expected to announce its next earnings report on Thursday, March 8th.
On average, analysts expect that Mirati Therapeutics will report full-year earnings of ($2.87) per share for the current year, with EPS estimates ranging from ($2.97) to ($2.80). For the next financial year, analysts forecast that the firm will post earnings of ($2.99) per share, with EPS estimates ranging from ($3.53) to ($2.11). Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Mirati Therapeutics.
Mirati Therapeutics (NASDAQ:MRTX) last issued its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($0.65) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.81) by $0.16.
Several equities analysts recently issued reports on MRTX shares. Citigroup Inc. restated a “buy” rating and issued a $16.00 price target (up previously from $8.00) on shares of Mirati Therapeutics in a research report on Tuesday, September 19th. SunTrust Banks, Inc. restated a “buy” rating and issued a $13.00 price target on shares of Mirati Therapeutics in a research report on Monday, October 2nd. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Mirati Therapeutics in a research report on Thursday, October 12th. Zacks Investment Research upgraded Mirati Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. Finally, Jefferies Group LLC set a $5.00 price target on Mirati Therapeutics and gave the company a “hold” rating in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. Mirati Therapeutics presently has a consensus rating of “Buy” and an average price target of $13.71.
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In other Mirati Therapeutics news, SVP Jamie Christensen sold 7,499 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $14.00, for a total transaction of $104,986.00. Following the transaction, the senior vice president now owns 10,169 shares in the company, valued at approximately $142,366. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 12,269 shares of company stock worth $170,226 in the last quarter. 5.10% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MRTX. Broadfin Capital LLC grew its holdings in shares of Mirati Therapeutics by 19.1% in the 2nd quarter. Broadfin Capital LLC now owns 2,490,801 shares of the biotechnology company’s stock worth $9,091,000 after acquiring an additional 400,000 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Mirati Therapeutics in the 1st quarter worth approximately $854,000. Dimensional Fund Advisors LP grew its holdings in shares of Mirati Therapeutics by 68.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 336,667 shares of the biotechnology company’s stock worth $3,939,000 after acquiring an additional 137,104 shares during the period. Royce & Associates LP grew its holdings in shares of Mirati Therapeutics by 88.7% in the 2nd quarter. Royce & Associates LP now owns 251,100 shares of the biotechnology company’s stock worth $917,000 after acquiring an additional 118,063 shares during the period. Finally, Hikari Power Ltd acquired a new stake in shares of Mirati Therapeutics in the 2nd quarter worth approximately $365,000. Institutional investors and hedge funds own 59.49% of the company’s stock.
Mirati Therapeutics (NASDAQ MRTX) opened at $13.20 on Wednesday. Mirati Therapeutics has a 52-week low of $2.70 and a 52-week high of $16.50.
Mirati Therapeutics Company Profile
Mirati Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of oncology products. The companys clinical stage product candidates include glesatinib, an orally-bioavailable, potent, small molecule kinase inhibitor that is in Phase II clinical trials for the treatment of non-small cell lung cancer (NSCLC) patients with genetic alterations of MET; and in Phase Ib clinical trials in patients with genetic alterations of MET and Axl in NSCLC and other solid tumors.
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