-$2.41 EPS Expected for Mirati Therapeutics, Inc. (NASDAQ:MRTX) This Quarter

Brokerages expect Mirati Therapeutics, Inc. (NASDAQ:MRTX) to report ($2.41) earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have provided estimates for Mirati Therapeutics’ earnings. The lowest EPS estimate is ($2.72) and the highest is ($1.55). Mirati Therapeutics posted earnings of ($1.89) per share during the same quarter last year, which suggests a negative year-over-year growth rate of 27.5%. The business is expected to issue its next earnings report on Thursday, August 5th.

According to Zacks, analysts expect that Mirati Therapeutics will report full-year earnings of ($10.25) per share for the current fiscal year, with EPS estimates ranging from ($11.25) to ($8.94). For the next fiscal year, analysts expect that the firm will post earnings of ($10.36) per share, with EPS estimates ranging from ($11.70) to ($7.03). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Mirati Therapeutics.

Mirati Therapeutics (NASDAQ:MRTX) last issued its quarterly earnings results on Thursday, May 6th. The biotechnology company reported ($2.67) earnings per share for the quarter, missing the consensus estimate of ($2.13) by ($0.54). The business had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.17 million. The business’s quarterly revenue was down 96.3% on a year-over-year basis. During the same period in the previous year, the company posted ($2.02) earnings per share.

A number of research firms recently commented on MRTX. HC Wainwright decreased their target price on Mirati Therapeutics from $255.00 to $251.00 and set a “buy” rating for the company in a report on Monday, May 10th. Oppenheimer reaffirmed a “market perform” rating and set a $160.00 target price (down previously from $245.00) on shares of Mirati Therapeutics in a report on Monday, May 24th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised Mirati Therapeutics from a “neutral” rating to a “buy” rating in a report on Friday, June 4th. Citigroup raised Mirati Therapeutics from a “neutral” rating to a “buy” rating in a report on Friday, June 4th. Finally, Jefferies Financial Group raised Mirati Therapeutics from a “hold” rating to a “buy” rating and decreased their target price for the stock from $208.00 to $196.00 in a report on Monday, May 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Mirati Therapeutics currently has a consensus rating of “Buy” and an average target price of $217.92.

NASDAQ MRTX traded up $0.40 during trading on Tuesday, hitting $170.07. The company’s stock had a trading volume of 2,338 shares, compared to its average volume of 480,253. Mirati Therapeutics has a fifty-two week low of $98.76 and a fifty-two week high of $249.42. The company has a market capitalization of $8.75 billion, a P/E ratio of -19.73 and a beta of 1.42. The firm’s 50 day moving average is $159.08.

In other news, EVP Benjamin Hickey sold 2,369 shares of Mirati Therapeutics stock in a transaction that occurred on Friday, March 19th. The stock was sold at an average price of $176.44, for a total value of $417,986.36. Following the sale, the executive vice president now directly owns 29,181 shares of the company’s stock, valued at $5,148,695.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jamie Christensen sold 435 shares of Mirati Therapeutics stock in a transaction that occurred on Monday, May 24th. The stock was sold at an average price of $154.34, for a total value of $67,137.90. Following the completion of the sale, the executive vice president now directly owns 53,850 shares in the company, valued at $8,311,209. The disclosure for this sale can be found here. Insiders sold 5,054 shares of company stock worth $883,622 over the last ninety days. Corporate insiders own 3.12% of the company’s stock.

Several large investors have recently modified their holdings of the company. US Bancorp DE boosted its stake in Mirati Therapeutics by 84.7% during the first quarter. US Bancorp DE now owns 157 shares of the biotechnology company’s stock worth $27,000 after buying an additional 72 shares during the last quarter. Valley Brook Capital Group acquired a new position in Mirati Therapeutics during the fourth quarter worth $43,000. Canada Pension Plan Investment Board acquired a new position in Mirati Therapeutics during the fourth quarter worth $61,000. Meeder Asset Management Inc. acquired a new position in Mirati Therapeutics during the first quarter worth $66,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Mirati Therapeutics during the fourth quarter worth $125,000.

About Mirati Therapeutics

Mirati Therapeutics, Inc, a clinical-stage oncology company, develops product candidates to address the genetic and immunological promoters of cancer in the United States. The company develops MRTX849, a KRAS G12C inhibitor, which is in Phase I/II clinical trial for treating non-small cell lung (NSCL), colorectal, pancreatic, and other cancers; and Sitravatinib, an investigational spectrum-selective kinase inhibitor that is in Phase II clinical trial for the treatment of NSCL cancer, as well as a KRAS G12D inhibitor program, which is in preclinical development.

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

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