Equities research analysts predict that Mirati Therapeutics Inc (NASDAQ:MRTX) will post earnings of ($1.22) per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Mirati Therapeutics’ earnings, with the lowest EPS estimate coming in at ($1.30) and the highest estimate coming in at ($1.17). Mirati Therapeutics posted earnings per share of ($0.94) in the same quarter last year, which would suggest a negative year over year growth rate of 29.8%. The company is scheduled to announce its next earnings results on Wednesday, August 7th.
On average, analysts expect that Mirati Therapeutics will report full year earnings of ($5.00) per share for the current financial year, with EPS estimates ranging from ($5.35) to ($4.74). For the next year, analysts expect that the company will post earnings of ($5.42) per share, with EPS estimates ranging from ($6.70) to ($4.29). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover Mirati Therapeutics.
Mirati Therapeutics (NASDAQ:MRTX) last released its quarterly earnings results on Monday, April 29th. The biotechnology company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($0.20). The firm had revenue of $1.24 million during the quarter.
Shares of NASDAQ:MRTX traded up $2.25 during midday trading on Friday, hitting $76.74. 403,061 shares of the stock were exchanged, compared to its average volume of 674,235. The company has a market capitalization of $2.77 billion, a PE ratio of -24.06 and a beta of 1.95. Mirati Therapeutics has a twelve month low of $28.50 and a twelve month high of $80.00.
In related news, CEO Charles M. Baum sold 51,810 shares of the business’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $75.67, for a total value of $3,920,462.70. Following the completion of the transaction, the chief executive officer now owns 117,851 shares of the company’s stock, valued at approximately $8,917,785.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael G. Grey sold 5,760 shares of Mirati Therapeutics stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $65.30, for a total value of $376,128.00. Following the completion of the sale, the director now owns 7,100 shares of the company’s stock, valued at approximately $463,630. The disclosure for this sale can be found here. Insiders sold a total of 641,851 shares of company stock valued at $45,709,698 in the last three months. 4.86% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC purchased a new stake in Mirati Therapeutics in the 1st quarter valued at about $40,000. Meeder Asset Management Inc. grew its holdings in Mirati Therapeutics by 12.9% in the 4th quarter. Meeder Asset Management Inc. now owns 2,087 shares of the biotechnology company’s stock valued at $89,000 after buying an additional 239 shares during the period. Legal & General Group Plc grew its holdings in Mirati Therapeutics by 16.5% in the 4th quarter. Legal & General Group Plc now owns 3,635 shares of the biotechnology company’s stock valued at $154,000 after buying an additional 515 shares during the period. Great West Life Assurance Co. Can grew its holdings in Mirati Therapeutics by 58.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 3,130 shares of the biotechnology company’s stock valued at $229,000 after buying an additional 1,149 shares during the period. Finally, Creative Planning purchased a new stake in Mirati Therapeutics in the 1st quarter valued at about $231,000.
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.
See Also: Risk Tolerance
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Mirati Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mirati Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.