Mirati Therapeutics, Inc. Forecasted to Earn FY2026 Earnings of ($9.51) Per Share (NASDAQ:MRTX)

Mirati Therapeutics, Inc. (NASDAQ:MRTX – Get Rating) – Stock analysts at Oppenheimer reduced their FY2026 earnings per share estimates for Mirati Therapeutics in a report issued on Tuesday, June 7th. Oppenheimer analyst J. Olson now expects that the biotechnology company will post earnings of ($9.51) per share for the year, down from their prior estimate of ($1.85).

Mirati Therapeutics (NASDAQ:MRTX – Get Rating) last announced its earnings results on Wednesday, May 4th. The biotechnology company reported ($3.40) EPS for the quarter, missing the consensus estimate of ($3.37) by ($0.03). The business had revenue of $0.71 million during the quarter, compared to analysts’ expectations of $0.18 million. The company’s revenue for the quarter was up 6990.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($2.67) earnings per share.

Several other research analysts also recently commented on MRTX. Citigroup cut their target price on Mirati Therapeutics from $227.00 to $208.00 in a report on Thursday, May 5th. Jonestrading reissued a “buy” rating and issued a $100.00 price objective on shares of Mirati Therapeutics in a research note on Saturday, June 4th. The Goldman Sachs Group dropped their price objective on Mirati Therapeutics from $216.00 to $188.00 and set a “buy” rating on the stock in a research note on Tuesday. StockNews.com raised Mirati Therapeutics to a “sell” rating in a research note on Thursday, May 12th. Finally, JMP Securities raised Mirati Therapeutics from a “market perform” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Mirati Therapeutics has a consensus rating of “Buy” and an average target price of $148.67.

Shares of MRTX opened at $60.45 on Thursday. The company has a market capitalization of $3.36 billion, a PE ratio of -5.08 and a beta of 1.64. Mirati Therapeutics has a 12 month low of $32.96 and a 12 month high of $195.99. The stock’s 50-day moving average price is $64.66 and its two-hundred day moving average price is $97.43.

Institutional investors and hedge funds have recently modified their holdings of the business. Kistler Tiffany Companies LLC bought a new stake in Mirati Therapeutics during the 4th quarter worth approximately $28,000. Signaturefd LLC grew its holdings in shares of Mirati Therapeutics by 102.4% in the first quarter. Signaturefd LLC now owns 338 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 171 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Mirati Therapeutics by 307.7% in the first quarter. Parallel Advisors LLC now owns 371 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 280 shares in the last quarter. Advisor Group Holdings Inc. grew its holdings in shares of Mirati Therapeutics by 57.4% in the third quarter. Advisor Group Holdings Inc. now owns 488 shares of the biotechnology company’s stock valued at $87,000 after acquiring an additional 178 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of Mirati Therapeutics by 79.4% in the third quarter. US Bancorp DE now owns 488 shares of the biotechnology company’s stock valued at $86,000 after acquiring an additional 216 shares in the last quarter.

About Mirati Therapeutics (Get Rating)

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 develops MRTX849, a KRAS G12C inhibitor, which is in Phase 1/2 clinical trial for treating non-small cell lung (NSCL), colorectal, pancreatic, and other cancers; and Sitravatinib, an investigational spectrum-selective kinase inhibitor that is in Phase 3 clinical trial for the treatment of NSCL cancer, as well as a KRAS G12D inhibitor program, which is in preclinical development.

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