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.
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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 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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