Mirati Therapeutics Inc (NASDAQ:MRTX) – Equities research analysts at Jefferies Financial Group reduced their Q2 2019 earnings per share estimates for Mirati Therapeutics in a report issued on Tuesday, April 30th. Jefferies Financial Group analyst M. Raycroft now forecasts that the biotechnology company will earn ($1.17) per share for the quarter, down from their prior estimate of ($1.00). Jefferies Financial Group also issued estimates for Mirati Therapeutics’ Q3 2019 earnings at ($1.19) EPS, Q4 2019 earnings at ($1.21) EPS, FY2019 earnings at ($4.74) EPS, FY2020 earnings at ($4.99) EPS, FY2021 earnings at ($4.97) EPS, FY2022 earnings at ($1.44) EPS and FY2023 earnings at $4.56 EPS.
Other equities research analysts have also recently issued research reports about the stock. Svb Leerink reaffirmed an “outperform” rating on shares of Mirati Therapeutics in a research report on Friday, February 15th. Zacks Investment Research cut shares of Mirati Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday. JPMorgan Chase & Co. began coverage on shares of Mirati Therapeutics in a research report on Wednesday, April 17th. They issued a “neutral” rating and a $72.00 price target for the company. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $66.00 price target on shares of Mirati Therapeutics in a research report on Wednesday. Finally, Oppenheimer reaffirmed a “buy” rating on shares of Mirati Therapeutics in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $69.08.
Mirati Therapeutics (NASDAQ:MRTX) last announced its quarterly earnings results on Monday, April 29th. The biotechnology company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($0.97) by ($0.20). The firm had revenue of $1.24 million for the quarter.
A number of large investors have recently bought and sold shares of MRTX. Janus Henderson Group PLC lifted its position in Mirati Therapeutics by 88.6% during the first quarter. Janus Henderson Group PLC now owns 2,034,744 shares of the biotechnology company’s stock valued at $149,147,000 after acquiring an additional 956,022 shares during the last quarter. BlackRock Inc. lifted its position in Mirati Therapeutics by 30.0% during the fourth quarter. BlackRock Inc. now owns 2,052,949 shares of the biotechnology company’s stock valued at $87,086,000 after acquiring an additional 474,097 shares during the last quarter. Jennison Associates LLC increased its stake in Mirati Therapeutics by 21.8% during the 4th quarter. Jennison Associates LLC now owns 1,216,464 shares of the biotechnology company’s stock valued at $51,602,000 after purchasing an additional 217,960 shares in the last quarter. Perceptive Advisors LLC acquired a new position in Mirati Therapeutics during the 4th quarter valued at approximately $5,250,000. Finally, Renaissance Technologies LLC increased its stake in Mirati Therapeutics by 2,013.0% during the 3rd quarter. Renaissance Technologies LLC now owns 97,200 shares of the biotechnology company’s stock valued at $4,578,000 after purchasing an additional 92,600 shares in the last quarter. 98.67% of the stock is owned by institutional investors.
In related news, major shareholder Venbio Select Advisor Llc sold 23,781 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $72.80, for a total transaction of $1,731,256.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles M. Baum sold 51,810 shares of the stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $75.67, for a total transaction of $3,920,462.70. Following the sale, the chief executive officer now directly owns 117,851 shares of the company’s stock, valued at approximately $8,917,785.17. The disclosure for this sale can be found here. Insiders have sold 1,382,911 shares of company stock valued at $99,772,950 in the last three months. 4.86% of the stock is currently owned by corporate insiders.
About Mirati Therapeutics
Mirati Therapeutics, Inc, a clinical-stage oncology company, develops product candidates to address the genetic and immunological promoters of cancer in the United States. The company is involved in developing sitravatinib, a spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of non-small cell lung cancer (NCSLC); and in Phase Ib clinical trial to treat NCSLC patients with Casitas B-lineage Lymphoma genetic alterations, as well as KRAS G12C inhibitor program for NSCLC adenocarcinoma patients, colorectal cancer patients, and other cancers.
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