Mirati Therapeutics (NASDAQ:MRTX) Price Target Cut to $121.00

Mirati Therapeutics (NASDAQ:MRTXGet Rating) had its target price lowered by Citigroup from $127.00 to $121.00 in a research report released on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

A number of other equities research analysts also recently weighed in on the company. SVB Leerink cut their price target on Mirati Therapeutics from $111.00 to $102.00 and set an outperform rating for the company in a research note on Wednesday, November 9th. B. Riley started coverage on Mirati Therapeutics in a research note on Friday, October 28th. They set a neutral rating and a $72.00 price target for the company. JMP Securities raised their price target on Mirati Therapeutics from $72.00 to $90.00 and gave the stock a market outperform rating in a research note on Thursday, August 4th. StockNews.com began coverage on Mirati Therapeutics in a research note on Wednesday, October 12th. They set a sell rating for the company. Finally, Jonestrading began coverage on Mirati Therapeutics in a report on Tuesday, September 13th. They issued a buy rating and a $100.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $110.64.

Mirati Therapeutics Price Performance

MRTX opened at $76.75 on Wednesday. Mirati Therapeutics has a fifty-two week low of $32.96 and a fifty-two week high of $154.17. The business has a 50-day moving average of $69.70 and a 200-day moving average of $67.24. The company has a market capitalization of $4.42 billion, a PE ratio of -5.73 and a beta of 0.84.

Institutional Trading of Mirati Therapeutics

Large investors have recently bought and sold shares of the stock. Signaturefd LLC grew its position in 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 during the period. Parallel Advisors LLC grew its position in 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 during the period. First Horizon Advisors Inc. bought a new stake in Mirati Therapeutics in the second quarter valued at $25,000. IndexIQ Advisors LLC bought a new stake in Mirati Therapeutics in the first quarter valued at $42,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in Mirati Therapeutics in the third quarter worth $36,000.

About Mirati Therapeutics

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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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