Mirati Therapeutics (NASDAQ:MRTX) Price Target Lowered to $85.00 at Oppenheimer

Mirati Therapeutics (NASDAQ:MRTXGet Rating) had its price objective dropped by stock analysts at Oppenheimer to $85.00 in a research report issued on Thursday, Stock Target Advisor reports. Oppenheimer’s target price would indicate a potential upside of 40.52% from the company’s current price. Oppenheimer also issued estimates for Mirati Therapeutics’ FY2026 earnings at ($9.51) EPS.

Other analysts also recently issued reports about the stock. Morgan Stanley lowered their price objective on shares of Mirati Therapeutics from $150.00 to $140.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 1st. Citigroup lowered their target price on shares of Mirati Therapeutics from $227.00 to $208.00 in a report on Thursday, May 5th. JMP Securities upgraded shares of Mirati Therapeutics from a “market perform” rating to an “outperform” rating and set a $72.00 target price on the stock in a report on Tuesday. The Goldman Sachs Group lowered their target price on shares of Mirati Therapeutics from $216.00 to $188.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, StockNews.com upgraded shares of Mirati Therapeutics to a “sell” rating in a report on Thursday, May 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Mirati Therapeutics has a consensus rating of “Buy” and a consensus price target of $144.00.

Shares of NASDAQ MRTX traded up $0.04 during midday trading on Thursday, reaching $60.49. The company’s stock had a trading volume of 1,405,493 shares, compared to its average volume of 1,027,770. Mirati Therapeutics has a fifty-two week low of $32.96 and a fifty-two week high of $195.99. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of -5.08 and a beta of 1.64. The stock has a 50 day simple moving average of $64.66 and a 200-day simple moving average of $97.43.

Mirati Therapeutics (NASDAQ:MRTXGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The biotechnology company reported ($3.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.37) by ($0.03). The firm had revenue of $0.71 million for the quarter, compared to the consensus estimate of $0.18 million. During the same quarter in the previous year, the business earned ($2.67) EPS. The firm’s revenue was up 6990.0% compared to the same quarter last year. On average, research analysts predict that Mirati Therapeutics will post -14.37 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. International Biotechnology Trust PLC boosted its position in shares of Mirati Therapeutics by 49.0% in the first quarter. International Biotechnology Trust PLC now owns 188,500 shares of the biotechnology company’s stock valued at $1,373,000 after acquiring an additional 62,000 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Mirati Therapeutics in the first quarter valued at about $2,321,000. Nomura Holdings Inc. bought a new stake in shares of Mirati Therapeutics in the first quarter valued at about $1,884,000. Point72 Hong Kong Ltd bought a new stake in shares of Mirati Therapeutics in the first quarter valued at about $219,000. Finally, Polar Capital Holdings Plc boosted its position in shares of Mirati Therapeutics by 10.2% in the first quarter. Polar Capital Holdings Plc now owns 29,390 shares of the biotechnology company’s stock valued at $2,416,000 after acquiring an additional 2,728 shares during the period.

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.

Featured Stories

Stock Target Advisor logo

Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

Want More Great Investing Ideas?

Receive News & Ratings for Mirati Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mirati Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.