Mirati Therapeutics, Inc. (MRTX) Receives $13.71 Consensus Price Target from Analysts

Mirati Therapeutics, Inc. (NASDAQ:MRTX) has been assigned an average rating of “Buy” from the ten research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $13.71.

Several analysts have issued reports on the stock. ValuEngine downgraded shares of Mirati Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 7th. SunTrust Banks reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Mirati Therapeutics in a research report on Monday, October 2nd. CIBC assumed coverage on shares of Mirati Therapeutics in a research report on Tuesday, September 19th. They issued an “outperform” rating and a $18.00 price objective for the company. Zacks Investment Research raised shares of Mirati Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. Finally, Cann began coverage on shares of Mirati Therapeutics in a research report on Tuesday, September 19th. They set an “outperform” rating for the company.

Shares of Mirati Therapeutics (MRTX) traded down $0.15 during trading hours on Thursday, reaching $16.15. Mirati Therapeutics has a one year low of $2.70 and a one year high of $19.25.

Mirati Therapeutics (NASDAQ:MRTX) last issued its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported ($0.65) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.81) by $0.16. analysts anticipate that Mirati Therapeutics will post -2.77 EPS for the current fiscal year.

In other Mirati Therapeutics news, SVP Jamie Christensen sold 10,275 shares of Mirati Therapeutics stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $18.00, for a total value of $184,950.00. Following the completion of the transaction, the senior vice president now owns 12,670 shares of the company’s stock, valued at $228,060. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Venbio Select Advisor Llc acquired 650,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was acquired at an average cost of $13.00 per share, with a total value of $8,450,000.00. The disclosure for this purchase can be found here. Insiders have sold 23,544 shares of company stock valued at $365,826 in the last three months. Corporate insiders own 5.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Sabby Management LLC boosted its holdings in Mirati Therapeutics by 2.1% in 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 period. Susquehanna International Group LLP lifted its stake in Mirati Therapeutics by 46.5% in the second quarter. Susquehanna International Group LLP now owns 50,509 shares of the biotechnology company’s stock valued at $184,000 after buying an additional 16,030 shares during the last quarter. KCG Holdings Inc. bought a new stake in Mirati Therapeutics in the first quarter valued at $106,000. Citadel Advisors LLC bought a new stake in Mirati Therapeutics in the third quarter valued at $268,000. Finally, OxFORD Asset Management LLP bought a new stake in Mirati Therapeutics in the third quarter valued at $365,000. 64.73% of the stock is owned by hedge funds and other institutional investors.

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About Mirati Therapeutics

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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