$35.00 Million in Sales Expected for Mirati Therapeutics, Inc. (NASDAQ:MRTX) This Quarter

Wall Street analysts forecast that Mirati Therapeutics, Inc. (NASDAQ:MRTX) will announce $35.00 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Mirati Therapeutics’ earnings, with the lowest sales estimate coming in at $10.00 million and the highest estimate coming in at $65.00 million. Mirati Therapeutics posted sales of $11.42 million in the same quarter last year, which suggests a positive year over year growth rate of 206.5%. The company is scheduled to report its next quarterly earnings results on Wednesday, November 3rd.

On average, analysts expect that Mirati Therapeutics will report full-year sales of $32.50 million for the current financial year, with estimates ranging from $10.00 million to $65.00 million. For the next fiscal year, analysts forecast that the firm will post sales of $81.18 million, with estimates ranging from $4.41 million to $166.50 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Mirati Therapeutics.

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

Several research firms recently issued reports on MRTX. Jefferies Financial Group began coverage on Mirati Therapeutics in a research note on Monday, September 20th. They issued a “buy” rating and a $193.00 target price on the stock. Stifel Nicolaus assumed coverage on shares of Mirati Therapeutics in a report on Wednesday, September 22nd. They set a “buy” rating and a $202.00 target price for the company. SVB Leerink boosted their price objective on shares of Mirati Therapeutics from $195.00 to $205.00 and gave the stock an “outperform” rating in a report on Tuesday, September 21st. Zacks Investment Research upgraded shares of Mirati Therapeutics from a “sell” rating to a “hold” rating and set a $166.00 target price for the company in a research note on Wednesday, October 6th. Finally, Oppenheimer boosted their target price on shares of Mirati Therapeutics from $160.00 to $175.00 and gave the company a “market perform” rating in a research note on Tuesday, September 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $216.63.

Shares of NASDAQ MRTX traded down $5.93 during trading hours on Wednesday, hitting $171.94. The company’s stock had a trading volume of 358,320 shares, compared to its average volume of 489,296. The stock has a market cap of $8.88 billion, a price-to-earnings ratio of -17.30 and a beta of 1.38. Mirati Therapeutics has a 12 month low of $131.46 and a 12 month high of $249.42. The business has a 50-day simple moving average of $162.15 and a 200-day simple moving average of $161.61.

A number of institutional investors have recently modified their holdings of MRTX. Marshall Wace LLP boosted its holdings in Mirati Therapeutics by 2,326.5% in the 1st quarter. Marshall Wace LLP now owns 4,853 shares of the biotechnology company’s stock worth $356,000 after buying an additional 4,653 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Mirati Therapeutics by 15.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,593 shares of the biotechnology company’s stock worth $273,000 after buying an additional 219 shares during the period. Principal Financial Group Inc. boosted its holdings in Mirati Therapeutics by 136.7% in the 1st quarter. Principal Financial Group Inc. now owns 56,743 shares of the biotechnology company’s stock worth $9,720,000 after buying an additional 32,773 shares during the period. Peregrine Capital Management LLC bought a new position in Mirati Therapeutics in the 1st quarter worth $10,344,000. Finally, Teacher Retirement System of Texas boosted its holdings in Mirati Therapeutics by 48.8% in the 1st quarter. Teacher Retirement System of Texas now owns 3,862 shares of the biotechnology company’s stock worth $662,000 after buying an additional 1,267 shares during the period.

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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