Mirati Therapeutics Inc (NASDAQ:MRTX) – Equities researchers at Jefferies Group boosted their Q2 2018 earnings per share estimates for Mirati Therapeutics in a research note issued to investors on Tuesday, May 8th, Zacks Investment Research reports. Jefferies Group analyst M. Raycroft now anticipates that the biotechnology company will post earnings per share of ($0.55) for the quarter, up from their previous estimate of ($0.59). Jefferies Group also issued estimates for Mirati Therapeutics’ Q3 2018 earnings at ($0.49) EPS, Q4 2018 earnings at ($0.54) EPS, FY2018 earnings at ($2.10) EPS, FY2019 earnings at ($1.79) EPS, FY2020 earnings at ($1.08) EPS and FY2021 earnings at $0.16 EPS.
A number of other equities research analysts also recently weighed in on the company. ValuEngine upgraded Mirati Therapeutics from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. BidaskClub upgraded Mirati Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 8th. Barclays started coverage on Mirati Therapeutics in a research report on Monday, March 12th. They issued an “overweight” rating and a $44.00 target price for the company. HC Wainwright upped their target price on Mirati Therapeutics to $40.00 and gave the stock a “buy” rating in a research report on Monday, March 12th. Finally, Zacks Investment Research downgraded Mirati Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, May 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $25.44.
Mirati Therapeutics (NASDAQ:MRTX) last issued its quarterly earnings data on Monday, May 7th. The biotechnology company reported ($0.51) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.12. The business had revenue of $9.47 million for the quarter, compared to analyst estimates of $10.00 million.
Large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in Mirati Therapeutics by 68.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 336,667 shares of the biotechnology company’s stock valued at $3,939,000 after purchasing an additional 137,104 shares during the period. Artal Group S.A. acquired a new stake in Mirati Therapeutics during the 4th quarter valued at $1,825,000. SG Americas Securities LLC acquired a new stake in Mirati Therapeutics during the 4th quarter valued at $829,000. Rock Springs Capital Management LP acquired a new stake in Mirati Therapeutics during the 4th quarter valued at $3,285,000. Finally, EAM Investors LLC acquired a new stake in Mirati Therapeutics during the 4th quarter valued at $635,000. 77.15% of the stock is currently owned by institutional investors.
In other news, CFO Jamie A. Donadio sold 51,875 shares of the stock in a transaction on Thursday, March 1st. The stock was 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 owns 9,375 shares in the company, valued at approximately $254,343.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jamie A. Donadio sold 12,100 shares of the stock in a transaction on Friday, March 9th. The shares were sold at an average price of $35.00, for a total value of $423,500.00. Following the sale, the chief financial officer now owns 12,100 shares of the company’s stock, valued at approximately $423,500. The disclosure for this sale can be found here. 4.86% of the stock is currently owned by corporate insiders.
Mirati Therapeutics Company Profile
Mirati Therapeutics, Inc, a clinical-stage oncology company, develops targeted therapeutics to address the genetic, epigenetic, and immunological promoters of cancer. The company is involved in developing sitravatinib, an oral spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of solid tumor; and in Phase Ib clinical trial to treat non-small cell lung cancer (NCSLC) patients with CBL, chromosome 4q12, and RET genetic alterations, as well as mocetinostat, an orally administered spectrum-selective Class 1 histone deacetylase inhibitor that is in Phase II clinical trial in combination with durvalumab for the treatment of patients with NSCLC.
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