Mirati Therapeutics (NASDAQ:MRTX) Issues Quarterly Earnings Results

Mirati Therapeutics (NASDAQ:MRTX) posted its quarterly earnings results on Tuesday. The biotechnology company reported ($1.83) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.42) by ($0.41), Briefing.com reports. The business had revenue of $0.50 million during the quarter, compared to analyst estimates of $0.24 million. Mirati Therapeutics had a negative return on equity of 53.74% and a negative net margin of 6,394.48%. The business’s revenue for the quarter was down 85.7% compared to the same quarter last year.

NASDAQ MRTX opened at $88.67 on Thursday. Mirati Therapeutics has a twelve month low of $55.11 and a twelve month high of $132.59. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of -15.72 and a beta of 2.31. The firm’s 50 day moving average price is $93.13 and its two-hundred day moving average price is $94.14.

MRTX has been the topic of several recent research reports. Cowen restated a “buy” rating on shares of Mirati Therapeutics in a research report on Tuesday, January 7th. Guggenheim lifted their price target on shares of Mirati Therapeutics from $116.00 to $128.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. BidaskClub upgraded shares of Mirati Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. BMO Capital Markets assumed coverage on shares of Mirati Therapeutics in a research report on Monday, January 27th. They issued a “market perform” rating and a $101.00 price target on the stock. Finally, ValuEngine cut shares of Mirati Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $107.50.

In other news, major shareholder Boxer Capital, Llc acquired 50,000 shares of the stock in a transaction on Friday, January 10th. The shares were purchased at an average cost of $97.50 per share, for a total transaction of $4,875,000.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.86% of the company’s stock.

About Mirati Therapeutics

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 for Mirati Therapeutics (NASDAQ:MRTX)

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