IFP Advisors Inc Has $104,000 Stock Position in Mirati Therapeutics, Inc. (NASDAQ:MRTX)

IFP Advisors Inc raised its stake in shares of Mirati Therapeutics, Inc. (NASDAQ:MRTX – Get Rating) by 12.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,403 shares of the biotechnology company’s stock after purchasing an additional 257 shares during the quarter. IFP Advisors Inc’s holdings in Mirati Therapeutics were worth $104,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of MRTX. Goldman Sachs Group Inc. raised its position in shares of Mirati Therapeutics by 1,803.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,447,460 shares of the biotechnology company’s stock valued at $164,298,000 after acquiring an additional 2,318,853 shares during the last quarter. EcoR1 Capital LLC bought a new position in Mirati Therapeutics in the 3rd quarter valued at about $70,928,000. State Street Corp raised its holdings in Mirati Therapeutics by 31.8% in the 2nd quarter. State Street Corp now owns 1,876,615 shares of the biotechnology company’s stock valued at $125,977,000 after acquiring an additional 453,050 shares during the period. Cormorant Asset Management LP boosted its position in shares of Mirati Therapeutics by 91.7% during the 3rd quarter. Cormorant Asset Management LP now owns 575,000 shares of the biotechnology company’s stock worth $40,158,000 after acquiring an additional 275,000 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Mirati Therapeutics by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,728,299 shares of the biotechnology company’s stock worth $330,225,000 after acquiring an additional 180,278 shares in the last quarter.

Wall Street Analysts Forecast Growth

MRTX has been the topic of a number of research analyst reports. B. Riley raised their target price on shares of Mirati Therapeutics from $52.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, January 23rd. BMO Capital Markets reduced their price objective on shares of Mirati Therapeutics from $59.00 to $50.00 and set a “market perform” rating for the company in a report on Wednesday, March 1st. Stifel Nicolaus reduced their price objective on shares of Mirati Therapeutics from $78.00 to $77.00 in a report on Wednesday, May 10th. StockNews.com began coverage on shares of Mirati Therapeutics in a research report on Thursday, March 16th. They issued a “sell” rating on the stock. Finally, Morgan Stanley lowered their price objective on shares of Mirati Therapeutics from $60.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Friday, January 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $81.13.

Mirati Therapeutics Stock Performance

Mirati Therapeutics stock opened at $49.49 on Monday. Mirati Therapeutics, Inc. has a fifty-two week low of $32.96 and a fifty-two week high of $101.30. The firm’s fifty day moving average price is $41.57 and its 200-day moving average price is $50.77. The stock has a market cap of $2.88 billion, a P/E ratio of -3.82 and a beta of 1.04.

Mirati Therapeutics (NASDAQ:MRTX – Get Rating) last released its earnings results on Tuesday, May 9th. The biotechnology company reported ($3.18) EPS for the quarter, beating the consensus estimate of ($3.47) by $0.29. The company had revenue of $7.17 million for the quarter, compared to analyst estimates of $4.80 million. Mirati Therapeutics had a negative net margin of 5,957.44% and a negative return on equity of 66.05%. The firm’s quarterly revenue was up 910.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($3.40) EPS. On average, analysts predict that Mirati Therapeutics, Inc. will post -13.26 earnings per share for the current year.

About Mirati Therapeutics

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Mirati Therapeutics, Inc operates as a clinical-stage oncology company. engages in the development of novel therapeutics. The firm’s products target the genetic and immunological promoters of cancer. Its clinical pipeline consists of Adagrasib, MRTX1133, and Sitravatinib. The company was founded on December 13, 1995, and is headquartered in San Diego, CA.