Wall Street analysts expect Mirati Therapeutics, Inc. (NASDAQ:MRTX) to announce sales of $10.00 million for the current quarter, according to Zacks. Two analysts have provided estimates for Mirati Therapeutics’ earnings. The company is expected to issue its next earnings report on Thursday, May 3rd.
According to Zacks, analysts expect that Mirati Therapeutics will report full-year sales of $10.00 million for the current financial year, with estimates ranging from $8.50 million to $10.00 million. For the next financial year, analysts forecast that the company will post sales of $8.50 million per share. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Mirati Therapeutics.
Mirati Therapeutics (NASDAQ:MRTX) last announced its earnings results on Thursday, March 8th. The biotechnology company reported ($0.67) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.61) by ($0.06).
A number of brokerages recently issued reports on MRTX. BidaskClub raised shares of Mirati Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 8th. Barclays began coverage on shares of Mirati Therapeutics in a research report on Monday, March 12th. They set an “overweight” rating and a $44.00 target price on the stock. HC Wainwright boosted their target price on shares of Mirati Therapeutics to $40.00 and gave the stock a “buy” rating in a research report on Monday, March 12th. ValuEngine lowered shares of Mirati Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research lowered shares of Mirati Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $25.44.
In other Mirati Therapeutics news, SVP Jamie Christensen sold 14,725 shares of the business’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $22.99, for a total value of $338,527.75. Following the sale, the senior vice president now owns 6,395 shares of the company’s stock, valued at approximately $147,021.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jamie A. Donadio sold 51,875 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $27.13, for a total transaction of $1,407,368.75. Following the completion of the sale, the chief financial officer now directly owns 9,375 shares in the company, valued at approximately $254,343.75. The disclosure for this sale can be found here. Insiders sold a total of 125,014 shares of company stock worth $3,477,750 in the last three months. Insiders own 5.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Perceptive Advisors LLC bought a new stake in Mirati Therapeutics in the 4th quarter valued at $531,000. Goldman Sachs Group Inc. acquired a new stake in shares of Mirati Therapeutics in the 4th quarter valued at $591,000. Rock Springs Capital Management LP acquired a new stake in shares of Mirati Therapeutics in the 4th quarter valued at $3,285,000. Bogle Investment Management L P DE acquired a new stake in shares of Mirati Therapeutics in the 4th quarter valued at $2,512,000. Finally, Geode Capital Management LLC boosted its stake in shares of Mirati Therapeutics by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 184,406 shares of the biotechnology company’s stock valued at $3,365,000 after purchasing an additional 14,721 shares in the last quarter. 82.89% of the stock is currently owned by hedge funds and other institutional investors.
Mirati Therapeutics (NASDAQ MRTX) opened at $32.50 on Friday. Mirati Therapeutics has a 52-week low of $2.70 and a 52-week high of $37.62.
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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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