FY2022 EPS Estimates for Mirati Therapeutics Inc Boosted by Jefferies Group (MRTX)

Mirati Therapeutics Inc (NASDAQ:MRTX) – Equities researchers at Jefferies Group raised their FY2022 earnings per share estimates for Mirati Therapeutics in a report released on Tuesday, May 8th. Jefferies Group analyst M. Raycroft now forecasts that the biotechnology company will post earnings per share of $2.19 for the year, up from their prior estimate of $2.13.

Mirati Therapeutics (NASDAQ:MRTX) last released its earnings results on Monday, May 7th. The biotechnology company reported ($0.51) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.12. The company had revenue of $9.47 million for the quarter, compared to the consensus estimate of $10.00 million.

MRTX has been the topic of several other research reports. HC Wainwright boosted their target price on Mirati Therapeutics to $40.00 and gave the company a “buy” rating in a research report on Monday, March 12th. Zacks Investment Research downgraded Mirati Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday. ValuEngine raised Mirati Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Barclays assumed coverage on Mirati Therapeutics in a research report on Monday, March 12th. They set an “overweight” rating and a $44.00 target price on the stock. Finally, Citigroup boosted their target price on Mirati Therapeutics from $23.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, March 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $25.44.

NASDAQ MRTX opened at $35.75 on Thursday. The company has a market cap of $1.03 billion, a PE ratio of -12.86 and a beta of 2.22. Mirati Therapeutics has a fifty-two week low of $34.75 and a fifty-two week high of $35.95.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in Mirati Therapeutics by 24.3% during the 1st quarter. BlackRock Inc. now owns 634,234 shares of the biotechnology company’s stock valued at $19,472,000 after acquiring an additional 123,872 shares during the period. Jennison Associates LLC purchased a new stake in shares of Mirati Therapeutics in the 4th quarter worth $8,899,000. Dimensional Fund Advisors LP lifted its holdings in shares of Mirati Therapeutics by 68.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 336,667 shares of the biotechnology company’s stock worth $3,939,000 after buying an additional 137,104 shares during the period. Geode Capital Management LLC lifted its holdings 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 worth $3,365,000 after buying an additional 14,721 shares during the period. Finally, Rock Springs Capital Management LP purchased a new stake in shares of Mirati Therapeutics in the 4th quarter worth $3,285,000. Institutional investors own 77.26% of the company’s stock.

In related news, CFO Jamie A. Donadio sold 51,875 shares of the business’s 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 transaction, the chief financial officer now owns 9,375 shares in the company, valued at approximately $254,343.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jamie A. Donadio sold 12,100 shares of the business’s 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 transaction, 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 owned by 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.

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

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