Mirati Therapeutics (MRTX) Stock Rating Upgraded by BidaskClub

Mirati Therapeutics (NASDAQ:MRTX) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday, February 8th.

Several other equities analysts have also weighed in on the stock. Cann restated a “buy” rating and set a $18.00 price objective on shares of Mirati Therapeutics in a research report on Monday, January 8th. Zacks Investment Research upgraded shares of Mirati Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of Mirati Therapeutics in a research report on Thursday, October 12th. SunTrust Banks restated a “buy” rating and set a $13.00 price objective on shares of Mirati Therapeutics in a research report on Thursday, October 12th. Finally, Leerink Swann upgraded shares of Mirati Therapeutics from a “market perform” rating to an “outperform” rating and set a $9.00 price objective for the company in a research report on Tuesday, November 14th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $14.75.

Mirati Therapeutics (MRTX) traded up $0.60 during trading on Thursday, reaching $29.60. 345,520 shares of the company’s stock traded hands, compared to its average volume of 436,682. The firm has a market cap of $799.02, a PE ratio of -9.52 and a beta of 2.17. Mirati Therapeutics has a 52-week low of $2.70 and a 52-week high of $30.50.

In other Mirati Therapeutics news, SVP Jamie Christensen sold 14,725 shares of the firm’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $22.99, for a total value of $338,527.75. Following the completion of the transaction, the senior vice president now directly owns 6,395 shares in the company, valued at $147,021.05. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 61,039 shares of company stock valued at $1,646,881. Corporate insiders own 5.10% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Susquehanna International Group LLP boosted its holdings in shares of Mirati Therapeutics by 46.5% in the second quarter. Susquehanna International Group LLP now owns 50,509 shares of the biotechnology company’s stock worth $184,000 after buying an additional 16,030 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Mirati Therapeutics in the fourth quarter worth about $207,000. Citadel Advisors LLC acquired a new position in shares of Mirati Therapeutics in the third quarter worth about $268,000. Goldman Sachs Group Inc. boosted its holdings in shares of Mirati Therapeutics by 845.4% in the second quarter. Goldman Sachs Group Inc. now owns 98,251 shares of the biotechnology company’s stock worth $359,000 after buying an additional 87,858 shares during the period. Finally, Virtus Fund Advisers LLC acquired a new position in shares of Mirati Therapeutics in the fourth quarter worth about $361,000. Institutional investors own 66.29% of the company’s stock.

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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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