Mirati Therapeutics, Inc. to Post FY2017 Earnings of ($2.86) Per Share, Oppenheimer Holdings Forecasts (NASDAQ:MRTX)

Mirati Therapeutics, Inc. (NASDAQ:MRTX) – Analysts at Oppenheimer Holdings raised their FY2017 earnings estimates for shares of Mirati Therapeutics in a report issued on Thursday, according to Zacks Investment Research. Oppenheimer Holdings analyst L. Cann now expects that the biotechnology company will post earnings per share of ($2.86) for the year, up from their previous estimate of ($3.02). Oppenheimer Holdings currently has a “Outperform” rating and a $18.00 target price on the stock. Oppenheimer Holdings also issued estimates for Mirati Therapeutics’ Q4 2017 earnings at ($0.74) EPS, Q1 2018 earnings at ($0.78) EPS, Q2 2018 earnings at ($0.82) EPS, Q3 2018 earnings at ($0.75) EPS and Q4 2018 earnings at ($0.86) EPS.

Mirati Therapeutics (NASDAQ:MRTX) last released its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($0.65) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.81) by $0.16.

ILLEGAL ACTIVITY WARNING: “Mirati Therapeutics, Inc. to Post FY2017 Earnings of ($2.86) Per Share, Oppenheimer Holdings Forecasts (NASDAQ:MRTX)” was originally posted by Week Herald and is owned by of Week Herald. If you are viewing this report on another publication, it was stolen and republished in violation of U.S. and international trademark & copyright laws. The correct version of this report can be read at https://weekherald.com/2017/11/15/mirati-therapeutics-inc-expected-to-post-fy2017-earnings-of-2-86-per-share-mrtx.html.

Other equities research analysts have also recently issued reports about the company. Jefferies Group LLC set a $5.00 target price on Mirati Therapeutics and gave the stock a “hold” rating in a report on Friday, August 4th. upgraded Mirati Therapeutics from a “mkt perform” rating to an “outperform” rating and set a $9.00 target price for the company in a research report on Tuesday. restated a “buy” rating and set a $17.00 target price (down previously from $20.00) on shares of Mirati Therapeutics in a research report on Tuesday. lowered Mirati Therapeutics from a “sell” rating to a “strong sell” rating in a report on Thursday, September 7th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and issued a $13.00 price target on shares of Mirati Therapeutics in a report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. Mirati Therapeutics presently has an average rating of “Buy” and a consensus price target of $13.71.

Shares of Mirati Therapeutics (NASDAQ MRTX) opened at $13.20 on Monday. Mirati Therapeutics has a twelve month low of $2.70 and a twelve month high of $16.50.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KCG Holdings Inc. purchased a new stake in Mirati Therapeutics in the first quarter valued at $106,000. Susquehanna International Group LLP boosted its stake in shares of Mirati Therapeutics by 46.5% during the 2nd quarter. Susquehanna International Group LLP now owns 50,509 shares of the biotechnology company’s stock worth $184,000 after acquiring an additional 16,030 shares in the last quarter. PDT Partners LLC purchased a new stake in shares of Mirati Therapeutics during the 2nd quarter worth about $200,000. LMR Partners LLP purchased a new stake in shares of Mirati Therapeutics during the 2nd quarter worth about $236,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Mirati Therapeutics during the 3rd quarter worth about $268,000. 59.49% of the stock is currently owned by hedge funds and other institutional investors.

In related news, SVP Jamie Christensen sold 4,000 shares of the company’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $14.00, for a total value of $56,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 12,269 shares of company stock worth $170,226. Insiders own 5.10% of the company’s stock.

Mirati Therapeutics Company Profile

Mirati Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of oncology products. The company’s 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.

Get a free copy of the Zacks research report on Mirati Therapeutics (MRTX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Mirati Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mirati Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply