Brokerages Set Mirati Therapeutics, Inc. (NASDAQ:MRTX) PT at $60.00

Mirati Therapeutics, Inc. (NASDAQ:MRTXGet Free Report) has been given a consensus recommendation of “Hold” by the fourteen analysts that are presently covering the stock, Marketbeat.com reports. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $60.00.

MRTX has been the topic of several research reports. Stifel Nicolaus reaffirmed a “hold” rating and set a $59.00 price target (down previously from $83.00) on shares of Mirati Therapeutics in a research note on Tuesday, November 7th. Leerink Partnrs downgraded Mirati Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 7th. SVB Leerink reiterated a “market perform” rating and set a $58.00 price objective (down from $78.00) on shares of Mirati Therapeutics in a report on Tuesday, November 7th. Citigroup restated a “neutral” rating and issued a $59.00 price target (up from $48.00) on shares of Mirati Therapeutics in a research note on Wednesday, December 20th. Finally, StockNews.com began coverage on Mirati Therapeutics in a research note on Wednesday. They issued a “sell” rating for the company.

Check Out Our Latest Research Report on Mirati Therapeutics

Mirati Therapeutics Trading Down 0.2 %

MRTX opened at $58.70 on Friday. The stock’s 50 day simple moving average is $58.35 and its 200-day simple moving average is $49.45. Mirati Therapeutics has a 1 year low of $27.30 and a 1 year high of $64.41. The stock has a market cap of $4.12 billion, a PE ratio of -4.80 and a beta of 0.77.

Mirati Therapeutics (NASDAQ:MRTXGet Free Report) last announced its quarterly earnings results on Monday, November 6th. The biotechnology company reported ($2.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.83) by $0.34. The firm had revenue of $16.40 million for the quarter, compared to analysts’ expectations of $18.80 million. Mirati Therapeutics had a negative return on equity of 82.15% and a negative net margin of 1,900.65%. The business’s revenue was up 203.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($3.09) earnings per share. Equities analysts forecast that Mirati Therapeutics will post -11.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Mirati Therapeutics

In other news, EVP Jamie Christensen sold 1,531 shares of Mirati Therapeutics stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $58.81, for a total value of $90,038.11. Following the transaction, the executive vice president now owns 157,135 shares in the company, valued at approximately $9,241,109.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Benjamin Hickey sold 2,090 shares of Mirati Therapeutics stock in a transaction on Monday, January 8th. The stock was sold at an average price of $58.92, for a total value of $123,142.80. Following the transaction, the executive vice president now owns 118,625 shares in the company, valued at approximately $6,989,385. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jamie Christensen sold 1,531 shares of the business’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $58.81, for a total value of $90,038.11. Following the sale, the executive vice president now owns 157,135 shares in the company, valued at approximately $9,241,109.35. The disclosure for this sale can be found here. Insiders sold 7,438 shares of company stock valued at $433,243 in the last three months. Corporate insiders own 3.26% of the company’s stock.

Institutional Investors Weigh In On Mirati Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. RTW Investments LP grew its position in Mirati Therapeutics by 51.3% during the 3rd quarter. RTW Investments LP now owns 6,768,514 shares of the biotechnology company’s stock worth $294,836,000 after acquiring an additional 2,295,529 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Mirati Therapeutics by 14.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,699,632 shares of the biotechnology company’s stock worth $248,276,000 after buying an additional 721,357 shares during the period. BlackRock Inc. lifted its holdings in Mirati Therapeutics by 2.5% during the 2nd quarter. BlackRock Inc. now owns 3,318,019 shares of the biotechnology company’s stock worth $119,880,000 after buying an additional 81,140 shares during the period. Simplicity Solutions LLC acquired a new position in Mirati Therapeutics during the 4th quarter worth about $184,238,000. Finally, State Street Corp lifted its holdings in Mirati Therapeutics by 11.8% during the 2nd quarter. State Street Corp now owns 2,581,739 shares of the biotechnology company’s stock worth $93,278,000 after buying an additional 271,919 shares during the period.

About Mirati Therapeutics

(Get Free Report

Mirati Therapeutics, Inc, a commercial-stage oncology company, develops novel therapeutics to address the genetic and immunological promoters of cancer in the United States. The company provides KRAZATI, an oral targeted treatment option for adult patients with KRAS G12C-mutated locally advanced or metastatic non-small cell lung (NSCLC), as well as in clinical development as a monotherapy and in combination with other agents.

Further Reading

Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

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