Analysts Expect Mirati Therapeutics, Inc. (MRTX) to Announce -$0.66 EPS
Equities analysts expect Mirati Therapeutics, Inc. (NASDAQ:MRTX) to announce earnings per share (EPS) of ($0.66) for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Mirati Therapeutics’ earnings. The lowest EPS estimate is ($0.75) and the highest is ($0.53). Mirati Therapeutics reported earnings per share of ($0.99) in the same quarter last year, which would indicate a positive year-over-year growth rate of 33.3%. The company is expected to announce its next earnings report on Thursday, March 8th.
According to Zacks, analysts expect that Mirati Therapeutics will report full-year earnings of ($2.78) per share for the current year, with EPS estimates ranging from ($2.88) to ($2.65). For the next fiscal year, analysts expect that the company will post earnings of ($2.56) per share, with EPS estimates ranging from ($3.53) to ($1.58). Zacks’ earnings per share averages are an average based on a survey of analysts 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.
MRTX has been the topic of several recent analyst reports. Oppenheimer Holdings, Inc. initiated coverage on Mirati Therapeutics in a research note on Monday, September 18th. They issued an “outperform” rating and a $18.00 price target on the stock. ValuEngine raised Mirati Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Friday, September 15th. Zacks Investment Research lowered Mirati Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $13.00 price target on shares of Mirati Therapeutics in a research note on Monday, October 2nd. Finally, CIBC initiated coverage on Mirati Therapeutics in a research note on Tuesday, September 19th. They issued an “outperform” rating and a $18.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Mirati Therapeutics currently has an average rating of “Buy” and a consensus target price of $13.71.
Shares of Mirati Therapeutics (NASDAQ MRTX) traded down $1.75 on Wednesday, reaching $17.25. The company’s stock had a trading volume of 911,325 shares, compared to its average volume of 553,318. Mirati Therapeutics has a 12-month low of $2.70 and a 12-month high of $19.25.
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In other news, major shareholder Venbio Select Advisor Llc bought 650,000 shares of the stock in a transaction dated Thursday, November 16th. The shares were bought at an average cost of $13.00 per share, with a total value of $8,450,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jamie Christensen sold 10,275 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $18.00, for a total value of $184,950.00. Following the transaction, the senior vice president now directly owns 12,670 shares in the company, valued at $228,060. The disclosure for this sale can be found here. Insiders have sold 22,544 shares of company stock worth $355,176 over the last ninety days. 5.10% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Broadfin Capital LLC grew its holdings in Mirati Therapeutics by 19.1% during the second quarter. Broadfin Capital LLC now owns 2,490,801 shares of the biotechnology company’s stock worth $9,091,000 after buying an additional 400,000 shares in the last quarter. Royce & Associates LP grew its holdings in Mirati Therapeutics by 88.7% during the second quarter. Royce & Associates LP now owns 251,100 shares of the biotechnology company’s stock worth $917,000 after buying an additional 118,063 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Mirati Therapeutics by 845.4% during the second quarter. Goldman Sachs Group Inc. now owns 98,251 shares of the biotechnology company’s stock worth $359,000 after buying an additional 87,858 shares in the last quarter. Sabby Management LLC grew its holdings in Mirati Therapeutics by 2.1% during the second quarter. Sabby Management LLC now owns 255,100 shares of the biotechnology company’s stock worth $921,000 after buying an additional 5,365 shares in the last quarter. Finally, Susquehanna International Group LLP grew its holdings in Mirati Therapeutics by 46.5% during the second quarter. Susquehanna International Group LLP now owns 50,509 shares of the biotechnology company’s stock worth $184,000 after buying an additional 16,030 shares in the last quarter. Institutional investors and hedge funds own 59.49% of the company’s stock.
About Mirati Therapeutics
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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