Zacks: Analysts Anticipate Mirati Therapeutics, Inc. (MRTX) Will Post Earnings of -$0.83 Per Share
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.
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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