Zacks: Brokerages Anticipate Mirati Therapeutics, Inc. (NASDAQ:MRTX) Will Post Earnings of -$2.80 Per Share

Wall Street brokerages expect Mirati Therapeutics, Inc. (NASDAQ:MRTX) to announce ($2.80) earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for Mirati Therapeutics’ earnings, with estimates ranging from ($3.32) to ($2.22). Mirati Therapeutics posted earnings per share of ($1.96) during the same quarter last year, which indicates a negative year-over-year growth rate of 42.9%. The company is expected to report its next quarterly earnings results on Wednesday, November 3rd.

According to Zacks, analysts expect that Mirati Therapeutics will report full year earnings of ($11.76) per share for the current financial year, with EPS estimates ranging from ($12.56) to ($8.99). For the next financial year, analysts expect that the business will report earnings of ($12.53) per share, with EPS estimates ranging from ($14.65) to ($10.91). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Mirati Therapeutics.

Mirati Therapeutics (NASDAQ:MRTX) last posted its quarterly earnings data on Thursday, August 5th. The biotechnology company reported ($3.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.40) by ($0.83).

MRTX has been the subject of several recent analyst reports. upgraded shares of Mirati Therapeutics from a “neutral” rating to a “buy” rating in a report on Friday, June 4th. HC Wainwright decreased their target price on shares of Mirati Therapeutics from $251.00 to $247.00 and set a “buy” rating for the company in a report on Monday, August 9th. Morgan Stanley initiated coverage on shares of Mirati Therapeutics in a report on Thursday, August 26th. They issued an “equal weight” rating and a $160.00 target price for the company. JPMorgan Chase & Co. decreased their target price on shares of Mirati Therapeutics from $205.00 to $203.00 and set an “overweight” rating for the company in a report on Tuesday, September 7th. Finally, Citigroup upgraded shares of Mirati Therapeutics from a “neutral” rating to a “buy” rating in a report on Friday, June 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $210.25.

NASDAQ:MRTX opened at $169.02 on Tuesday. Mirati Therapeutics has a twelve month low of $131.46 and a twelve month high of $249.42. The company has a 50-day moving average of $158.41 and a 200-day moving average of $163.74. The firm has a market cap of $8.73 billion, a price-to-earnings ratio of -17.00 and a beta of 1.37.

Institutional investors and hedge funds have recently modified their holdings of the stock. US Bancorp DE raised its position in Mirati Therapeutics by 84.7% during the first quarter. US Bancorp DE now owns 157 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 72 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in Mirati Therapeutics during the second quarter valued at approximately $27,000. E Fund Management Co. Ltd. bought a new position in Mirati Therapeutics during the first quarter valued at approximately $125,000. Old Well Partners LLC bought a new position in Mirati Therapeutics during the first quarter valued at approximately $211,000. Finally, FORA Capital LLC bought a new position in Mirati Therapeutics during the second quarter valued at approximately $201,000.

Mirati Therapeutics Company Profile

Mirati Therapeutics, Inc operates as a clinical-stage oncology company, which engages in the development of novel therapeutics. The firm’s products targets the genetic and immunological promoters of cancer. Its clinical pipeline consists of Adagrasib, MRTX1133, and Sitravatinib. The company was founded on December 13, 1995 and is headquartered in San Diego, CA.

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

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