Shares of Mirati Therapeutics Inc (NASDAQ:MRTX) have received a consensus rating of “Buy” from the sixteen ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $66.63.
Several research analysts have weighed in on MRTX shares. Piper Jaffray Companies started coverage on Mirati Therapeutics in a research note on Friday, February 15th. They issued an “overweight” rating and a $85.00 price target for the company. HC Wainwright restated a “buy” rating on shares of Mirati Therapeutics in a research note on Friday, February 15th. Svb Leerink restated an “outperform” rating on shares of Mirati Therapeutics in a research note on Friday, February 15th. Zacks Investment Research upgraded Mirati Therapeutics from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a research report on Friday, February 22nd. Finally, Citigroup increased their target price on Mirati Therapeutics from $64.00 to $77.00 and gave the company a “neutral” rating in a research report on Monday, March 4th.
In related news, major shareholder Venbio Select Advisor Llc sold 125,000 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $76.55, for a total transaction of $9,568,750.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jamie A. Donadio sold 7,500 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $75.00, for a total value of $562,500.00. Following the sale, the chief financial officer now owns 7,721 shares in the company, valued at approximately $579,075. The disclosure for this sale can be found here. Insiders have sold a total of 638,851 shares of company stock valued at $45,484,098 over the last quarter. Corporate insiders own 4.86% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in MRTX. FMR LLC raised its holdings in Mirati Therapeutics by 109.7% during the 1st quarter. FMR LLC now owns 4,606,270 shares of the biotechnology company’s stock valued at $337,640,000 after buying an additional 2,409,882 shares during the period. Perceptive Advisors LLC raised its holdings in Mirati Therapeutics by 825.0% during the 1st quarter. Perceptive Advisors LLC now owns 1,164,382 shares of the biotechnology company’s stock valued at $85,349,000 after buying an additional 1,038,507 shares during the period. Janus Henderson Group PLC raised its holdings in Mirati Therapeutics by 88.6% during the 1st quarter. Janus Henderson Group PLC now owns 2,034,744 shares of the biotechnology company’s stock valued at $149,147,000 after buying an additional 956,022 shares during the period. BlackRock Inc. raised its holdings in Mirati Therapeutics by 30.0% during the 4th quarter. BlackRock Inc. now owns 2,052,949 shares of the biotechnology company’s stock valued at $87,086,000 after buying an additional 474,097 shares during the period. Finally, TimesSquare Capital Management LLC purchased a new stake in Mirati Therapeutics during the 1st quarter valued at $17,687,000.
MRTX stock traded down $1.89 during midday trading on Thursday, hitting $74.49. The company’s stock had a trading volume of 405,984 shares, compared to its average volume of 676,973. Mirati Therapeutics has a 12 month low of $28.50 and a 12 month high of $80.00. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of -23.35 and a beta of 1.95.
Mirati Therapeutics (NASDAQ:MRTX) last posted its quarterly earnings results on Monday, April 29th. The biotechnology company reported ($1.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.97) by ($0.20). The business had revenue of $1.24 million during the quarter. On average, equities analysts predict that Mirati Therapeutics will post -5 EPS for the current fiscal year.
About Mirati Therapeutics
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 is involved in developing sitravatinib, a spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of non-small cell lung cancer (NCSLC); and in Phase Ib clinical trial to treat NCSLC patients with Casitas B-lineage Lymphoma genetic alterations, as well as KRAS G12C inhibitor program for NSCLC adenocarcinoma patients, colorectal cancer patients, and other cancers.
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