Mirati Therapeutics, Inc. (MRTX) Releases Quarterly Earnings Results, Beats Estimates By $0.16 EPS
Mirati Therapeutics, Inc. (NASDAQ:MRTX) posted its quarterly earnings results on Wednesday. The biotechnology company reported ($0.65) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.16, Bloomberg Earnings reports.
Shares of Mirati Therapeutics (NASDAQ MRTX) traded up $1.35 during trading hours on Friday, reaching $14.05. 375,742 shares of the company were exchanged, compared to its average volume of 428,133.
MRTX has been the topic of several research analyst reports. Oppenheimer Holdings, Inc. initiated coverage on shares of Mirati Therapeutics in a report on Monday, September 18th. They set an “outperform” rating and a $18.00 price target on the stock. ValuEngine upgraded shares of Mirati Therapeutics from a “strong sell” rating to a “sell” rating in a report on Friday, September 15th. Zacks Investment Research cut shares of Mirati Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. SunTrust Banks, Inc. restated a “buy” rating and set a $13.00 price target on shares of Mirati Therapeutics in a report on Monday, October 2nd. Finally, CIBC initiated coverage on shares of Mirati Therapeutics in a report on Tuesday, September 19th. They set an “outperform” rating and a $18.00 price target on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $13.88.
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In related news, SVP Jamie Christensen sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $14.00, for a total transaction of $56,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 12,269 shares of company stock worth $170,226. 5.10% of the stock is owned by corporate insiders.
About Mirati Therapeutics
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.
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