Mirati Therapeutics Inc (MRTX) Forecasted to Earn FY2018 Earnings of ($2.93) Per Share
Mirati Therapeutics Inc (NASDAQ:MRTX) – Research analysts at Jefferies Financial Group issued their FY2018 earnings per share estimates for Mirati Therapeutics in a report released on Sunday, November 11th. Jefferies Financial Group analyst M. Raycroft anticipates that the biotechnology company will post earnings of ($2.93) per share for the year. Jefferies Financial Group has a “Hold” rating and a $37.00 price objective on the stock. Jefferies Financial Group also issued estimates for Mirati Therapeutics’ Q4 2018 earnings at ($0.62) EPS, FY2019 earnings at ($3.50) EPS, FY2020 earnings at ($2.45) EPS, FY2021 earnings at $0.08 EPS and FY2022 earnings at $3.29 EPS.
Several other research firms also recently weighed in on MRTX. HC Wainwright upped their price objective on shares of Mirati Therapeutics to $63.00 and gave the stock a “buy” rating in a report on Friday, July 20th. Cowen restated a “buy” rating on shares of Mirati Therapeutics in a report on Monday, October 22nd. Oppenheimer set a $57.00 price objective on shares of Mirati Therapeutics and gave the stock a “buy” rating in a report on Sunday, November 11th. Zacks Investment Research upgraded shares of Mirati Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. Finally, Guggenheim upgraded shares of Mirati Therapeutics from a “neutral” rating to a “buy” rating in a report on Monday, October 29th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $54.86.
Mirati Therapeutics (NASDAQ:MRTX) last released its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($0.85) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.87) by $0.02.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Kalos Management Inc. bought a new stake in shares of Mirati Therapeutics in the 2nd quarter worth $252,000. Sei Investments Co. bought a new stake in shares of Mirati Therapeutics in the 2nd quarter worth $994,000. FMR LLC grew its stake in shares of Mirati Therapeutics by 67.5% in the 2nd quarter. FMR LLC now owns 1,986,315 shares of the biotechnology company’s stock worth $97,926,000 after acquiring an additional 800,223 shares in the last quarter. Boxer Capital LLC grew its stake in shares of Mirati Therapeutics by 14.1% in the 2nd quarter. Boxer Capital LLC now owns 1,565,560 shares of the biotechnology company’s stock worth $77,182,000 after acquiring an additional 193,050 shares in the last quarter. Finally, Fred Alger Management Inc. bought a new stake in shares of Mirati Therapeutics in the 2nd quarter worth $394,000. Hedge funds and other institutional investors own 98.46% of the company’s stock.
In other news, CEO Charles M. Baum sold 51,810 shares of the company’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $57.55, for a total value of $2,981,665.50. Following the completion of the sale, the chief executive officer now owns 102,742 shares in the company, valued at approximately $5,912,802.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.86% of the company’s stock.
About Mirati Therapeutics
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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