Cantor Fitzgerald Analysts Cut Earnings Estimates for Mirati Therapeutics Inc (NASDAQ:MRTX)

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Mirati Therapeutics Inc (NASDAQ:MRTX) – Stock analysts at Cantor Fitzgerald reduced their FY2019 EPS estimates for shares of Mirati Therapeutics in a research report issued on Wednesday, November 6th. Cantor Fitzgerald analyst V. Kumar now expects that the biotechnology company will post earnings per share of ($5.31) for the year, down from their previous estimate of ($4.93). Cantor Fitzgerald has a “Neutral” rating and a $85.00 price objective on the stock. Cantor Fitzgerald also issued estimates for Mirati Therapeutics’ FY2020 earnings at ($5.57) EPS.

Several other research firms also recently weighed in on MRTX. Guggenheim upped their price target on Mirati Therapeutics from $116.00 to $128.00 and gave the stock a “buy” rating in a research note on Tuesday. Zacks Investment Research downgraded Mirati Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday. Jefferies Financial Group upgraded Mirati Therapeutics from a “hold” rating to a “buy” rating and upped their price target for the stock from $89.00 to $105.00 in a research note on Monday, September 9th. HC Wainwright restated a “buy” rating on shares of Mirati Therapeutics in a research note on Thursday, October 17th. Finally, B. Riley dropped their price target on Mirati Therapeutics from $92.00 to $83.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. Mirati Therapeutics currently has an average rating of “Buy” and an average price target of $105.67.

MRTX stock traded up $1.15 during midday trading on Friday, hitting $99.15. The company’s stock had a trading volume of 2,082 shares, compared to its average volume of 904,291. Mirati Therapeutics has a 12 month low of $34.39 and a 12 month high of $111.99. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of -30.72 and a beta of 2.05. The company has a 50 day moving average of $83.68 and a two-hundred day moving average of $86.98.

Mirati Therapeutics (NASDAQ:MRTX) last announced its quarterly earnings data on Monday, November 4th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.25) by ($0.13). Mirati Therapeutics had a negative net margin of 2,698.66% and a negative return on equity of 48.60%. The company had revenue of $0.99 million for the quarter, compared to the consensus estimate of $0.50 million.

Large investors have recently made changes to their positions in the company. Aperio Group LLC purchased a new position in shares of Mirati Therapeutics in the second quarter worth about $50,000. NumerixS Investment Technologies Inc purchased a new position in Mirati Therapeutics during the second quarter valued at approximately $52,000. Quantamental Technologies LLC purchased a new position in Mirati Therapeutics during the second quarter valued at approximately $59,000. First Mercantile Trust Co. purchased a new position in Mirati Therapeutics during the second quarter valued at approximately $89,000. Finally, Tower Research Capital LLC TRC purchased a new position in Mirati Therapeutics during the third quarter valued at approximately $112,000.

In other news, CEO Charles M. Baum sold 51,810 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $86.22, for a total value of $4,467,058.20. Following the completion of the transaction, the chief executive officer now directly owns 117,851 shares in the company, valued at $10,161,113.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bruce L. A. Carter sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $89.24, for a total value of $267,720.00. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at $267,720. The disclosure for this sale can be found here. In the last three months, insiders sold 57,852 shares of company stock valued at $5,015,464. Corporate insiders own 4.86% of the company’s stock.

Mirati Therapeutics Company Profile

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

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