There Is Still Room For Mirati Therapeutics Inc. (MRTX) to Improve Its Value – Let’s Wait for Clarity

Mirati Therapeutics Inc. (NASDAQ: MRTX) closed the day trading at 69.94 down -2.45% from the previous closing price of $71.70. In other words, the price has decreased by $-1.76 from its previous closing price. On the day, 1342645 shares were traded. MRTX reached its highest trading level at $71.49 during the session, while it also had its lowest trading level at $67.37.

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For a better understanding of MRTX, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 10.10 and its Current Ratio is at 10.10. In the meantime, Its Debt-to-Equity ratio is 0.00 whereas as Long-Term Debt/Eq ratio is at 0.00.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Piper Sandler on September 15, 2022, initiated with a Overweight rating and assigned the stock a target price of $110.

On June 07, 2022, JMP Securities Upgraded its rating to Mkt Outperform which previously was Mkt Perform but kept the price unchanged to $72.

Guggenheim Upgraded its Neutral to Buy on May 20, 2022, while the target price for the stock was maintained at $115.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Aug 12 when CARTER BRUCE L A sold 10,000 shares for $85.49 per share. The transaction valued at 854,899 led to the insider holds 6,021 shares of the business.

Christensen Jamie sold 624 shares of MRTX for $39,649 on May 23. The EVP, Chief Scientific Officer now owns 86,804 shares after completing the transaction at $63.54 per share. On Jan 19, another insider, Cherrington Julie M, who serves as the Director of the company, sold 1,475 shares for $116.07 each. As a result, the insider received 171,203 and left with 2,546 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 51.56 while its Price-to-Book (P/B) ratio in mrq is 3.49.

Stock Price History:

Over the past 52 weeks, MRTX has reached a high of $195.99, while it has fallen to a 52-week low of $32.96. The 50-Day Moving Average of the stock is 75.80, while the 200-Day Moving Average is calculated to be 85.93.

Shares Statistics:

Over the past 3-months, MRTX traded about 1.00M shares per day on average, while over the past 10 days, MRTX traded about 1.07M shares per day. A total of 55.55M shares are outstanding, with a floating share count of 51.83M. Shares short for MRTX as of Jul 14, 2022 were 8.05M with a Short Ratio of 7.43, compared to 5.61M on Jun 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 14.49% and a Short% of Float of 18.08%.

Earnings Estimates

Current recommendations for the stock of the company come from 14 analysts. On average, analysts expect EPS of $-3.49 for the current quarter, with a high estimate of $-3.3 and a low estimate of $-3.69, while EPS last year was $-3.23. The consensus estimate for the next quarter is $-3.6, with high estimates of $-3.11 and low estimates of $-3.9.

Analysts are recommending an EPS of between $-13.33 and $-15.31 for the fiscal current year, implying an average EPS of $-14.25. EPS for the following year is $-12.85, with 15 analysts recommending between $-7.35 and $-19.55.

Revenue Estimates

A total of 14 analysts have provided revenue estimates for MRTX’s current fiscal year. The highest revenue estimate was $25.7M, while the lowest revenue estimate was $700k, resulting in an average revenue estimate of $7.15M. In the same quarter a year ago, actual revenue was $72.09M, down -90.10% from the average estimate. Based on 15 analysts’ estimates, the company’s revenue will be $150.22M in the next fiscal year. The high estimate is $307.1M and the low estimate is $24.3M. The average revenue growth estimate for next year is up 2,001.00% from the average revenue estimate for this year.