Shares of Mirati Therapeutics, Inc. (NASDAQ:MRTX – Get Rating) were up 3.3% on Tuesday after B. Riley raised their price target on the stock from $52.00 to $56.00. B. Riley currently has a neutral rating on the stock. Mirati Therapeutics traded as high as $49.50 and last traded at $49.50. Approximately 176,852 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 1,391,170 shares. The stock had previously closed at $47.91.
MRTX has been the subject of a number of other research reports. Citigroup cut Mirati Therapeutics from a “buy” rating to a “neutral” rating and lowered their target price for the company from $121.00 to $53.00 in a research note on Friday, December 9th. Oppenheimer lowered their target price on Mirati Therapeutics from $85.00 to $60.00 and set a “market perform” rating for the company in a research note on Thursday, December 8th. Barclays lowered their target price on Mirati Therapeutics from $169.00 to $90.00 in a research note on Wednesday, December 14th. BMO Capital Markets cut Mirati Therapeutics from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $110.00 to $59.00 in a research note on Thursday, December 8th. Finally, Stifel Nicolaus lowered their target price on Mirati Therapeutics to $73.00 in a research note on Friday, December 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Mirati Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $82.13.
Insiders Place Their Bets
In other Mirati Therapeutics news, Director Julie M. Cherrington sold 2,546 shares of Mirati Therapeutics stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $44.66, for a total value of $113,704.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Julie M. Cherrington sold 2,546 shares of Mirati Therapeutics stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $44.66, for a total value of $113,704.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jamie Christensen sold 2,245 shares of Mirati Therapeutics stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $42.38, for a total value of $95,143.10. Following the completion of the sale, the executive vice president now directly owns 97,878 shares of the company’s stock, valued at approximately $4,148,069.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,593 shares of company stock valued at $8,465,677. Corporate insiders own 3.47% of the company’s stock.
Institutional Trading of Mirati Therapeutics
Mirati Therapeutics Stock Up 3.0 %
The company has a fifty day simple moving average of $56.60 and a 200-day simple moving average of $66.49. The firm has a market cap of $2.84 billion, a P/E ratio of -3.69 and a beta of 1.07.
Mirati Therapeutics (NASDAQ:MRTX – Get Rating) last released its quarterly earnings results on Tuesday, November 8th. The biotechnology company reported ($3.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.46) by $0.37. Mirati Therapeutics had a negative return on equity of 60.40% and a negative net margin of 6,253.81%. The business had revenue of $5.43 million during the quarter, compared to analyst estimates of $4.72 million. As a group, research analysts forecast that Mirati Therapeutics, Inc. will post -13.5 EPS for the current 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 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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