SunTrust Banks Weighs in on Mirati Therapeutics, Inc.’s FY2019 Earnings (MRTX)
Mirati Therapeutics, Inc. (NASDAQ:MRTX) – Equities research analysts at SunTrust Banks cut their FY2019 earnings estimates for Mirati Therapeutics in a report released on Tuesday. SunTrust Banks analyst P. Lawson now expects that the biotechnology company will post earnings per share of ($2.80) for the year, down from their previous forecast of ($2.54). SunTrust Banks has a “Buy” rating and a $13.00 price target on the stock. SunTrust Banks also issued estimates for Mirati Therapeutics’ FY2020 earnings at ($1.67) EPS and FY2021 earnings at ($0.97) EPS.
Mirati Therapeutics (NASDAQ:MRTX) last posted its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($0.65) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.16.
ILLEGAL ACTIVITY WARNING: “SunTrust Banks Weighs in on Mirati Therapeutics, Inc.’s FY2019 Earnings (MRTX)” was originally posted by Daily Political and is the sole property of of Daily Political. If you are accessing this story on another domain, it was illegally copied and republished in violation of US & international copyright & trademark legislation. The legal version of this story can be accessed at https://www.dailypolitical.com/2017/11/19/suntrust-banks-weighs-in-on-mirati-therapeutics-inc-s-fy2019-earnings-mrtx.html.
Several other equities analysts have also weighed in on the stock. ValuEngine upgraded shares of Mirati Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday. HC Wainwright reiterated a “buy” rating and issued a $17.00 target price (down from $20.00) on shares of Mirati Therapeutics in a report on Tuesday, November 14th. Leerink Swann upgraded shares of Mirati Therapeutics from a “market perform” rating to an “outperform” rating and set a $9.00 target price on the stock in a report on Tuesday, November 14th. Zacks Investment Research upgraded shares of Mirati Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, CIBC assumed coverage on shares of Mirati Therapeutics in a report on Tuesday, September 19th. They issued an “outperform” rating and a $18.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $13.71.
Mirati Therapeutics (MRTX) opened at $17.25 on Friday. Mirati Therapeutics has a 52-week low of $2.70 and a 52-week high of $19.25.
In other Mirati Therapeutics news, SVP Jamie Christensen sold 4,000 shares of the stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $14.00, for a total value of $56,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Venbio Select Advisor Llc acquired 650,000 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was purchased at an average cost of $13.00 per share, for a total transaction of $8,450,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 22,544 shares of company stock worth $355,176. 5.10% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of MRTX. Broadfin Capital LLC boosted its stake in Mirati Therapeutics by 19.1% during the 2nd quarter. Broadfin Capital LLC now owns 2,490,801 shares of the biotechnology company’s stock worth $9,091,000 after purchasing an additional 400,000 shares during the period. Renaissance Technologies LLC acquired a new stake in Mirati Therapeutics during the 1st quarter worth $854,000. Dimensional Fund Advisors LP boosted its stake in Mirati Therapeutics by 68.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 336,667 shares of the biotechnology company’s stock worth $3,939,000 after purchasing an additional 137,104 shares during the period. Royce & Associates LP boosted its stake in Mirati Therapeutics by 88.7% during the 2nd quarter. Royce & Associates LP now owns 251,100 shares of the biotechnology company’s stock worth $917,000 after purchasing an additional 118,063 shares during the period. Finally, Hikari Power Ltd acquired a new stake in shares of Mirati Therapeutics in the 2nd quarter worth $365,000. 59.49% of the stock is currently owned by hedge funds and other institutional investors.
Mirati Therapeutics Company Profile
Mirati Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of oncology products. The companys clinical stage product candidates include glesatinib, an orally-bioavailable, potent, small molecule kinase inhibitor that is in Phase II clinical trials for the treatment of non-small cell lung cancer (NSCLC) patients with genetic alterations of MET; and in Phase Ib clinical trials in patients with genetic alterations of MET and Axl in NSCLC and other solid tumors.
Receive News & Ratings for Mirati Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mirati Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.