Mirati Therapeutics, Inc. (MRTX) Given Consensus Recommendation of “Hold” by Brokerages

Mirati Therapeutics, Inc. (NASDAQ:MRTX) has been assigned an average rating of “Hold” from the eleven analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $13.17.

Several brokerages have recently issued reports on MRTX. Zacks Investment Research cut Mirati Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Mirati Therapeutics in a research note on Thursday, October 12th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $13.00 price objective on shares of Mirati Therapeutics in a research note on Thursday, October 12th. ValuEngine upgraded Mirati Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Friday, September 15th. Finally, Cann began coverage on Mirati Therapeutics in a research note on Tuesday, September 19th. They issued an “outperform” rating for the company.

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Mirati Therapeutics (NASDAQ MRTX) opened at $15.05 on Friday. Mirati Therapeutics has a 52 week low of $2.70 and a 52 week high of $16.50.

Mirati Therapeutics (NASDAQ:MRTX) last announced its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported ($0.65) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.16. equities research analysts forecast that Mirati Therapeutics will post -2.87 EPS for the current fiscal year.

In related news, SVP Jamie Christensen sold 7,499 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $14.00, for a total transaction of $104,986.00. Following the completion of the sale, the senior vice president now owns 10,169 shares in the company, valued at $142,366. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 12,269 shares of company stock valued at $170,226. 5.10% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Sabby Management LLC lifted its stake in Mirati Therapeutics by 2.1% during the second quarter. Sabby Management LLC now owns 255,100 shares of the biotechnology company’s stock worth $921,000 after purchasing an additional 5,365 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Mirati Therapeutics by 22.9% during the first quarter. Bank of New York Mellon Corp now owns 63,004 shares of the biotechnology company’s stock worth $328,000 after purchasing an additional 11,753 shares during the last quarter. Susquehanna International Group LLP lifted its stake in Mirati Therapeutics by 46.5% during the second quarter. Susquehanna International Group LLP now owns 50,509 shares of the biotechnology company’s stock worth $184,000 after purchasing an additional 16,030 shares during the last quarter. KCG Holdings Inc. purchased a new stake in Mirati Therapeutics during the first quarter worth approximately $106,000. Finally, Citadel Advisors LLC purchased a new stake in Mirati Therapeutics during the third quarter worth approximately $268,000. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Mirati Therapeutics Company Profile

Mirati Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of oncology products. The company’s clinical stage product candidates include glesatinib, an orally-bioavailable, potent, small molecule kinase inhibitor that is in Phase II clinical trials for the treatment of non-small cell lung cancer (NSCLC) patients with genetic alterations of MET; and in Phase Ib clinical trials in patients with genetic alterations of MET and Axl in NSCLC and other solid tumors.

Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

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