Brokerages expect that Mirati Therapeutics Inc (NASDAQ:MRTX) will report earnings of ($1.21) per share for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Mirati Therapeutics’ earnings, with estimates ranging from ($1.30) to ($1.17). Mirati Therapeutics posted earnings of ($0.94) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 28.7%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, August 7th.
On average, analysts expect that Mirati Therapeutics will report full year earnings of ($4.97) per share for the current year, with EPS estimates ranging from ($5.35) to ($4.67). For the next year, analysts anticipate that the company will post earnings of ($5.50) per share, with EPS estimates ranging from ($6.70) to ($4.99). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow Mirati Therapeutics.
Mirati Therapeutics (NASDAQ:MRTX) last announced its quarterly earnings data on Monday, April 29th. The biotechnology company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($0.97) by ($0.20). The company had revenue of $1.24 million during the quarter.
Several equities research analysts recently commented on the company. Citigroup raised OIL SEARCH LTD/ADR from a “sell” rating to a “neutral” rating in a research note on Tuesday, June 4th. JPMorgan Chase & Co. restated a “buy” rating and issued a $69.00 target price on shares of Daimler in a report on Friday, July 12th. Credit Suisse Group set a $155.00 target price on Allergan and gave the company a “hold” rating in a report on Monday, March 25th. Cowen set a $63.00 target price on TJX Companies and gave the company a “buy” rating in a report on Tuesday, June 4th. Finally, SunTrust Banks raised their target price on Mirati Therapeutics to $120.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $94.70.
In related news, CFO Jamie A. Donadio sold 7,500 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $75.00, for a total value of $562,500.00. Following the transaction, the chief financial officer now directly owns 7,721 shares of the company’s stock, valued at approximately $579,075. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce L. A. Carter sold 3,000 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $75.20, for a total transaction of $225,600.00. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at $225,600. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,260 shares of company stock worth $1,164,228. 4.86% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Handelsbanken Fonder AB grew its position in Mirati Therapeutics by 2.5% during the 2nd quarter. Handelsbanken Fonder AB now owns 41,000 shares of the biotechnology company’s stock worth $4,223,000 after purchasing an additional 1,000 shares during the last quarter. Xact Kapitalforvaltning AB raised its position in Mirati Therapeutics by 43.8% during the second quarter. Xact Kapitalforvaltning AB now owns 4,600 shares of the biotechnology company’s stock worth $474,000 after acquiring an additional 1,400 shares during the last quarter. FMR LLC grew its holdings in shares of Mirati Therapeutics by 109.7% during the first quarter. FMR LLC now owns 4,606,270 shares of the biotechnology company’s stock worth $337,640,000 after buying an additional 2,409,882 shares in the last quarter. Metropolitan Life Insurance Co NY grew its holdings in shares of Mirati Therapeutics by 6.5% during the first quarter. Metropolitan Life Insurance Co NY now owns 6,870 shares of the biotechnology company’s stock worth $503,000 after buying an additional 419 shares in the last quarter. Finally, MetLife Investment Advisors LLC grew its holdings in shares of Mirati Therapeutics by 11.4% during the first quarter. MetLife Investment Advisors LLC now owns 9,577 shares of the biotechnology company’s stock worth $702,000 after buying an additional 983 shares in the last quarter.
MRTX traded up $2.59 on Thursday, reaching $105.89. The stock had a trading volume of 298,402 shares, compared to its average volume of 710,362. Mirati Therapeutics has a fifty-two week low of $28.50 and a fifty-two week high of $109.64. The firm’s 50-day moving average price is $98.68. The stock has a market cap of $3.73 billion, a P/E ratio of -33.19 and a beta of 2.02.
Mirati Therapeutics Company Profile
Mirati Therapeutics, Inc, a clinical-stage oncology company, develops product candidates to address the genetic and immunological promoters of cancer in the United States. The company is involved in developing sitravatinib, a spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of non-small cell lung cancer (NCSLC); and in Phase Ib clinical trial to treat NCSLC patients with Casitas B-lineage Lymphoma genetic alterations, as well as KRAS G12C inhibitor program for NSCLC adenocarcinoma patients, colorectal cancer patients, and other cancers.
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