Brokerages predict that Mirati Therapeutics, Inc. (NASDAQ:MRTX) will report earnings per share of ($0.83) for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Mirati Therapeutics’ earnings. The highest EPS estimate is ($0.76) and the lowest is ($0.93). Mirati Therapeutics reported earnings per share of ($0.97) in the same quarter last year, which would suggest a positive year-over-year growth rate of 14.4%. The firm is expected to announce its next quarterly earnings results on Thursday, November 2nd.

According to Zacks, analysts expect that Mirati Therapeutics will report full-year earnings of ($3.15) per share for the current financial year, with EPS estimates ranging from ($3.33) to ($2.99). For the next year, analysts forecast that the business will report earnings of ($2.70) per share, with EPS estimates ranging from ($3.22) to ($2.27). Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Mirati Therapeutics.

A number of equities analysts recently weighed in on the company. Citigroup Inc. reiterated a “buy” rating and issued a $16.00 price target (up previously from $8.00) on shares of Mirati Therapeutics in a research report on Tuesday, September 19th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $13.00 price objective on shares of Mirati Therapeutics in a research note on Monday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $4.50 target price on shares of Mirati Therapeutics in a report on Monday, June 12th. Leerink Swann raised their target price on Mirati Therapeutics from $7.00 to $9.00 and gave the company a “market perform” rating in a report on Friday, September 15th. Finally, Cann started coverage on Mirati Therapeutics in a research report on Tuesday, September 19th. They set an “outperform” rating for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. Mirati Therapeutics has a consensus rating of “Hold” and an average price target of $12.63.

Mirati Therapeutics (NASDAQ MRTX) traded down 2.68% on Friday, hitting $14.50. The stock had a trading volume of 504,689 shares. The stock has a 50-day moving average of $7.94 and a 200-day moving average of $5.10. Mirati Therapeutics has a one year low of $2.70 and a one year high of $15.40. The company’s market cap is $362.05 million.

Several institutional investors and hedge funds have recently modified their holdings of MRTX. Aviva Holdings Ltd. boosted its stake in Mirati Therapeutics by 44.6% during the 1st quarter. Aviva Holdings Ltd. now owns 2,880,702 shares of the biotechnology company’s stock valued at $14,980,000 after purchasing an additional 888,617 shares during the last quarter. Broadfin Capital LLC lifted its position in shares of Mirati Therapeutics by 19.1% during the 2nd 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. Boxer Capital LLC lifted its position in shares of Mirati Therapeutics by 37.0% during the 1st quarter. Boxer Capital LLC now owns 1,037,994 shares of the biotechnology company’s stock worth $5,398,000 after buying an additional 280,059 shares in the last quarter. Sabby Management LLC lifted its position in shares of Mirati Therapeutics by 2.1% during the 2nd 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, Royce & Associates LP lifted its position in shares of Mirati Therapeutics by 88.7% during the 2nd 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. Institutional investors own 60.17% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This article was posted by American Banking News and is the property of of American Banking News. If you are reading this article on another publication, it was copied illegally and republished in violation of United States & international trademark & copyright law. The original version of this article can be viewed at https://www.americanbankingnews.com/2017/10/06/zacks-analysts-anticipate-mirati-therapeutics-inc-mrtx-will-post-earnings-of-0-83-per-share.html.

About Mirati Therapeutics

Mirati Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of oncology products. The company’s 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.

Get a free copy of the Zacks research report on Mirati Therapeutics (MRTX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Mirati Therapeutics (NASDAQ:MRTX)

Receive News & Ratings for Mirati Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mirati Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.