Mirati Therapeutics Inc (NASDAQ:MRTX) – Investment analysts at SunTrust Banks upped their Q3 2019 earnings per share (EPS) estimates for shares of Mirati Therapeutics in a report issued on Monday, August 5th, Zacks Investment Research reports. SunTrust Banks analyst P. Lawson now expects that the biotechnology company will post earnings of ($1.15) per share for the quarter, up from their prior estimate of ($1.19). SunTrust Banks currently has a “Buy” rating and a $120.00 target price on the stock. SunTrust Banks also issued estimates for Mirati Therapeutics’ Q4 2019 earnings at ($1.14) EPS, FY2019 earnings at ($4.73) EPS, FY2020 earnings at ($5.23) EPS, FY2021 earnings at ($3.40) EPS and FY2022 earnings at $0.45 EPS.
A number of other brokerages have also recently issued reports on MRTX. Cantor Fitzgerald boosted their price objective on Mirati Therapeutics from $66.00 to $85.00 and gave the stock a “positive” rating in a report on Tuesday, June 4th. BidaskClub cut Mirati Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 20th. Piper Jaffray Companies boosted their price target on Mirati Therapeutics from $85.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. Barclays boosted their price target on Mirati Therapeutics from $85.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, June 5th. Finally, Leerink Swann set a $118.00 price objective on shares of Mirati Therapeutics and gave the company a “buy” rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $95.16.
Shares of NASDAQ:MRTX traded down $2.91 during trading on Thursday, reaching $81.97. 235,575 shares of the stock were exchanged, compared to its average volume of 451,243. Mirati Therapeutics has a 12 month low of $28.50 and a 12 month high of $111.99. The firm has a market cap of $3.32 billion, a PE ratio of -25.70 and a beta of 1.99. The stock has a 50-day moving average price of $95.89 and a 200-day moving average price of $82.90.
Mirati Therapeutics (NASDAQ:MRTX) last issued its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.18) by ($0.08). The firm had revenue of $0.58 million during the quarter.
In other news, CEO Charles M. Baum sold 51,810 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $86.22, for a total transaction 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce L. A. Carter sold 3,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $89.24, for a total transaction of $267,720.00. Following 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. Over the last 90 days, insiders have sold 845,360 shares of company stock valued at $82,651,250. Company insiders own 4.86% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Meeder Asset Management Inc. increased its holdings in shares of Mirati Therapeutics by 7.9% during the first quarter. Meeder Asset Management Inc. now owns 2,252 shares of the biotechnology company’s stock worth $166,000 after buying an additional 165 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Mirati Therapeutics by 19.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,422 shares of the biotechnology company’s stock valued at $146,000 after purchasing an additional 235 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in Mirati Therapeutics by 2.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 10,192 shares of the biotechnology company’s stock valued at $747,000 after purchasing an additional 290 shares during the period. American International Group Inc. increased its holdings in Mirati Therapeutics by 2.9% in the first quarter. American International Group Inc. now owns 13,664 shares of the biotechnology company’s stock valued at $1,002,000 after purchasing an additional 383 shares during the period. Finally, Metropolitan Life Insurance Co NY increased its holdings in Mirati Therapeutics by 6.5% in the first quarter. Metropolitan Life Insurance Co NY now owns 6,870 shares of the biotechnology company’s stock valued at $503,000 after purchasing an additional 419 shares during the period. Institutional investors own 97.93% 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.