Mirati Therapeutics, Inc. (MRTX) Releases Earnings Results, Beats Expectations By $0.16 EPS
Mirati Therapeutics, Inc. (NASDAQ:MRTX) issued its quarterly earnings results on Wednesday. The biotechnology company reported ($0.65) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.81) by $0.16, Bloomberg Earnings reports.
Mirati Therapeutics (MRTX) traded up $1.35 during trading on Friday, hitting $14.05. The company had a trading volume of 345,076 shares, compared to its average volume of 428,133.
A number of equities research analysts have recently weighed in on MRTX shares. ValuEngine upgraded Mirati Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Friday, September 15th. Leerink Swann boosted their price target on Mirati Therapeutics from $7.00 to $9.00 and gave the stock a “market perform” rating in a research note on Friday, September 15th. Oppenheimer Holdings, Inc. started coverage on Mirati Therapeutics in a research note on Monday, September 18th. They set an “outperform” rating and a $18.00 price target on the stock. CIBC started coverage on Mirati Therapeutics in a research note on Tuesday, September 19th. They set an “outperform” rating and a $18.00 price target on the stock. Finally, HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Mirati Therapeutics in a research note on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Mirati Therapeutics has a consensus rating of “Hold” and an average target price of $13.88.
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In related news, SVP Jamie Christensen sold 7,499 shares of Mirati Therapeutics stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $14.00, for a total transaction of $104,986.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 12,269 shares of company stock valued at $170,226 in the last ninety days. Corporate insiders own 5.10% 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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