Mirati Therapeutics, Inc. (MRTX) to Post FY2017 Earnings of ($2.86) Per Share, Oppenheimer Holdings Forecasts
Mirati Therapeutics, Inc. (NASDAQ:MRTX) – Analysts at Oppenheimer Holdings lifted their FY2017 earnings per share (EPS) estimates for Mirati Therapeutics in a research note issued to investors on Thursday. Oppenheimer Holdings analyst L. Cann now expects that the biotechnology company will earn ($2.86) per share for the year, up from their prior forecast of ($3.02). Oppenheimer Holdings has a “Outperform” rating and a $18.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Mirati Therapeutics’ Q4 2017 earnings at ($0.74) EPS, Q1 2018 earnings at ($0.78) EPS, Q2 2018 earnings at ($0.82) EPS, Q3 2018 earnings at ($0.75) EPS and Q4 2018 earnings at ($0.86) EPS.
Several other research firms have also recently issued reports on MRTX. Zacks Investment Research cut Mirati Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. HC Wainwright reiterated a “buy” rating and set a $20.00 target price on shares of Mirati Therapeutics in a research report on Thursday, October 12th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $13.00 target price on shares of Mirati Therapeutics in a research report on Thursday, October 12th. ValuEngine upgraded Mirati Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, September 15th. Finally, Cann assumed coverage on Mirati Therapeutics in a research report on Tuesday, September 19th. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $14.14.
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Shares of Mirati Therapeutics (NASDAQ MRTX) opened at $13.65 on Monday.
Mirati Therapeutics (NASDAQ:MRTX) last issued its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($0.65) EPS for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.16.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Broadfin Capital LLC grew its holdings in Mirati Therapeutics by 19.1% during the 2nd quarter. Broadfin Capital LLC now owns 2,490,801 shares of the biotechnology company’s stock valued at $9,091,000 after buying an additional 400,000 shares in the last quarter. Sabby Management LLC grew its holdings in Mirati Therapeutics by 2.1% during the 2nd quarter. Sabby Management LLC now owns 255,100 shares of the biotechnology company’s stock valued at $921,000 after buying an additional 5,365 shares in the last quarter. Royce & Associates LP grew its holdings in Mirati Therapeutics by 88.7% during the 2nd quarter. Royce & Associates LP now owns 251,100 shares of the biotechnology company’s stock valued at $917,000 after buying an additional 118,063 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Mirati Therapeutics by 53.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 199,563 shares of the biotechnology company’s stock valued at $728,000 after buying an additional 69,377 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Mirati Therapeutics during the 1st quarter valued at approximately $854,000. Institutional investors and hedge funds own 60.26% of the company’s stock.
In other Mirati Therapeutics news, SVP Jamie Christensen sold 7,499 shares of the firm’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 completion of 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 12,269 shares of company stock valued at $170,226 in the last 90 days. 5.10% of the stock is currently owned by company insiders.
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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