Wall Street brokerages forecast that Mirati Therapeutics Inc (NASDAQ:MRTX) will announce earnings of ($0.80) per share for the current quarter, according to Zacks. Three analysts have provided estimates for Mirati Therapeutics’ earnings, with the highest EPS estimate coming in at ($0.62) and the lowest estimate coming in at ($0.90). Mirati Therapeutics reported earnings per share of ($0.67) during the same quarter last year, which suggests a negative year-over-year growth rate of 19.4%. The company is expected to report its next earnings results on Thursday, March 14th.
On average, analysts expect that Mirati Therapeutics will report full-year earnings of ($3.12) per share for the current year, with EPS estimates ranging from ($3.22) to ($2.93). For the next year, analysts expect that the firm will post earnings of ($3.99) per share, with EPS estimates ranging from ($4.74) to ($3.50). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Mirati Therapeutics.
Get Mirati Therapeutics alerts:Mirati Therapeutics (NASDAQ:MRTX) last announced its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.85) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.87) by $0.02.
A number of research firms have issued reports on MRTX. HC Wainwright reissued a “buy” rating and issued a $65.00 price objective on shares of Mirati Therapeutics in a report on Monday, November 12th. BidaskClub raised shares of Mirati Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, December 7th. Zacks Investment Research raised shares of Mirati Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. reissued a “buy” rating and issued a $57.00 price objective (down previously from $62.00) on shares of Mirati Therapeutics in a report on Tuesday, November 6th. Finally, Oppenheimer set a $62.00 price objective on shares of Mirati Therapeutics and gave the company a “buy” rating in a report on Tuesday, October 30th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $55.78.
In other news, Director Craig A. Johnson sold 17,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 29th. The shares were sold at an average price of $61.46, for a total transaction of $1,044,820.00. Following the completion of the sale, the director now owns 7,000 shares of the company’s stock, valued at approximately $430,220. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Boxer Capital, Llc sold 550,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 8th. The stock was sold at an average price of $52.10, for a total transaction of $28,655,000.00. The disclosure for this sale can be found here. Insiders sold a total of 617,000 shares of company stock valued at $32,083,820 in the last three months. Insiders own 4.86% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. lifted its holdings in shares of Mirati Therapeutics by 12.9% during the 4th quarter. Meeder Asset Management Inc. now owns 2,087 shares of the biotechnology company’s stock worth $89,000 after acquiring an additional 239 shares during the period. Legal & General Group Plc bought a new stake in shares of Mirati Therapeutics during the 2nd quarter worth approximately $150,000. Pacer Advisors Inc. bought a new stake in shares of Mirati Therapeutics during the 3rd quarter worth approximately $176,000. Renaissance Technologies LLC bought a new stake in shares of Mirati Therapeutics during the 2nd quarter worth approximately $227,000. Finally, GAM Holding AG bought a new stake in shares of Mirati Therapeutics during the 3rd quarter worth approximately $236,000.
MRTX traded up $0.52 on Friday, reaching $66.60. The company had a trading volume of 287,433 shares, compared to its average volume of 822,461. Mirati Therapeutics has a fifty-two week low of $24.65 and a fifty-two week high of $67.98. The firm has a market cap of $2.27 billion, a P/E ratio of -23.96 and a beta of 1.49.
Mirati Therapeutics Company Profile
Mirati Therapeutics, Inc, a clinical-stage oncology company, develops targeted therapeutics to address the genetic, epigenetic, and immunological promoters of cancer. The company is involved in developing sitravatinib, an oral spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of solid tumor; and in Phase Ib clinical trial to treat non-small cell lung cancer (NCSLC) patients with CBL, chromosome 4q12, and RET genetic alterations, as well as mocetinostat, an orally administered spectrum-selective Class 1 histone deacetylase inhibitor that is in Phase II clinical trial in combination with durvalumab for the treatment of patients with NSCLC.
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