Mirati Therapeutics Inc (NASDAQ:MRTX) – Equities research analysts at Cantor Fitzgerald decreased their FY2019 EPS estimates for Mirati Therapeutics in a research report issued on Tuesday, April 30th, according to Zacks Investment Research. Cantor Fitzgerald analyst V. Kumar now expects that the biotechnology company will earn ($4.93) per share for the year, down from their prior estimate of ($3.89). Cantor Fitzgerald currently has a “Hold” rating on the stock.
Mirati Therapeutics (NASDAQ:MRTX) last released its quarterly earnings data on Monday, April 29th. The biotechnology company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($0.97) by ($0.20). The firm had revenue of $1.24 million for the quarter.
Several other research firms have also weighed in on MRTX. Cowen reiterated a “buy” rating on shares of Mirati Therapeutics in a research note on Wednesday, May 15th. Oppenheimer set a $81.00 price objective on shares of Mirati Therapeutics and gave the company a “buy” rating in a research note on Thursday, March 7th. Piper Jaffray Companies started coverage on shares of Mirati Therapeutics in a research note on Friday, February 15th. They issued an “overweight” rating and a $85.00 price objective for the company. Zacks Investment Research lowered shares of Mirati Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Finally, Svb Leerink restated an “outperform” rating on shares of Mirati Therapeutics in a research note on Friday, February 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $69.08.
Shares of NASDAQ:MRTX traded up $2.25 during mid-day trading on Thursday, hitting $76.74. The company had a trading volume of 384,702 shares, compared to its average volume of 674,235. The firm has a market capitalization of $2.72 billion, a P/E ratio of -24.06 and a beta of 1.95. Mirati Therapeutics has a one year low of $28.50 and a one year high of $80.00.
In related news, major shareholder Boxer Capital, Llc sold 425,000 shares of Mirati Therapeutics stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $69.00, for a total value of $29,325,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce L. A. Carter sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $75.20, for a total value of $225,600.00. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at $225,600. The disclosure for this sale can be found here. In the last quarter, insiders sold 641,851 shares of company stock valued at $45,709,698. 4.86% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MRTX. FMR LLC boosted its holdings in Mirati Therapeutics by 109.7% during the 1st quarter. FMR LLC now owns 4,606,270 shares of the biotechnology company’s stock valued at $337,640,000 after acquiring an additional 2,409,882 shares during the period. BlackRock Inc. increased its position in Mirati Therapeutics by 13.8% during the 1st quarter. BlackRock Inc. now owns 2,336,095 shares of the biotechnology company’s stock valued at $171,236,000 after buying an additional 283,146 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Mirati Therapeutics by 88.6% in the first quarter. Janus Henderson Group PLC now owns 2,034,744 shares of the biotechnology company’s stock valued at $149,147,000 after purchasing an additional 956,022 shares during the period. Vanguard Group Inc. increased its holdings in shares of Mirati Therapeutics by 1.9% in the third quarter. Vanguard Group Inc. now owns 1,431,905 shares of the biotechnology company’s stock valued at $67,443,000 after purchasing an additional 26,316 shares during the period. Finally, Vanguard Group Inc increased its holdings in shares of Mirati Therapeutics by 1.9% in the third quarter. Vanguard Group Inc now owns 1,431,905 shares of the biotechnology company’s stock valued at $67,443,000 after purchasing an additional 26,316 shares during the period.
Mirati Therapeutics Company Profile
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 is involved in developing sitravatinib, a spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of non-small cell lung cancer (NCSLC); and in Phase Ib clinical trial to treat NCSLC patients with Casitas B-lineage Lymphoma genetic alterations, as well as KRAS G12C inhibitor program for NSCLC adenocarcinoma patients, colorectal cancer patients, and other cancers.
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