Investors are always looking for stocks that are poised to beat at earnings season and Mirati Therapeutics, Inc. may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Mirati Therapeutics is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for MRTX in this report.
In fact, the Most Accurate Estimate for the current quarter is currently higher than the broader Zacks Consensus Estimate of a loss of $2.04 per share. This suggests that analysts have very recently bumped up their estimates for MRTX, giving the stock a Zacks Earnings ESP of +0.28% heading into earnings season.
Why is this Important?
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Given that MRTX has a Zacks Rank #3 and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Clearly, recent earnings estimate revisions suggest that good things are ahead for Mirati Therapeutics, and that a beat might be in the cards for the upcoming report.
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Why Mirati Therapeutics (MRTX) Might Surprise This Earnings Season
Investors are always looking for stocks that are poised to beat at earnings season and Mirati Therapeutics, Inc. may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Mirati Therapeutics is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for MRTX in this report.
In fact, the Most Accurate Estimate for the current quarter is currently higher than the broader Zacks Consensus Estimate of a loss of $2.04 per share. This suggests that analysts have very recently bumped up their estimates for MRTX, giving the stock a Zacks Earnings ESP of +0.28% heading into earnings season.
Mirati Therapeutics, Inc. Price and EPS Surprise
Mirati Therapeutics, Inc. price-eps-surprise | Mirati Therapeutics, Inc. Quote
Why is this Important?
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Given that MRTX has a Zacks Rank #3 and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Clearly, recent earnings estimate revisions suggest that good things are ahead for Mirati Therapeutics, and that a beat might be in the cards for the upcoming report.
Have You Seen Zacks’ 2020 Election Stock Report?
The upcoming election could be a massive buying opportunity for savvy investors. Trillions of dollars will shift into new market sectors after the election. The question is, which sectors will soar for each candidate? Zacks has put together a new special report to help readers like you target big profits.
The 2020 Election Stock Report reveals specific stocks you’ll want to own immediately after the results are announced – 6 if Trump wins, 6 if Biden wins. Past election reports have led investors to gains of +71%, +83%, even +185% in the following months. This year’s picks could be even more lucrative.
Check out Zacks’ 2020 Election Stock Report >>