Brokerages Set Mirati Therapeutics, Inc. (MRTX) Target Price at $14.75

Shares of Mirati Therapeutics, Inc. (NASDAQ:MRTX) have been given a consensus rating of “Buy” by the twelve ratings firms that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $14.75.

Several research analysts recently issued reports on the company. BidaskClub raised Mirati Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 8th. ValuEngine raised Mirati Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research raised Mirati Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. Oppenheimer reaffirmed a “buy” rating and set a $18.00 target price on shares of Mirati Therapeutics in a research report on Wednesday, November 22nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $17.00 target price (down previously from $20.00) on shares of Mirati Therapeutics in a research report on Tuesday, November 14th.

Mirati Therapeutics (NASDAQ MRTX) traded up $1.00 during midday trading on Tuesday, hitting $28.35. The stock had a trading volume of 438,900 shares, compared to its average volume of 471,278. The company has a market capitalization of $738.28, a P/E ratio of -9.12 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 10,814 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $27.00, for a total value of $291,978.00. Following the transaction, the senior vice president now owns 13,691 shares of the company’s stock, valued at $369,657. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 61,039 shares of company stock worth $1,646,881. Insiders own 5.10% of the company’s stock.

A number of hedge funds have recently bought and sold shares of MRTX. Raymond James Financial Services Advisors Inc. purchased a new position in Mirati Therapeutics in the fourth quarter worth $207,000. Citadel Advisors LLC bought a new position in Mirati Therapeutics during the 3rd quarter worth $268,000. Goldman Sachs Group Inc. increased its position in Mirati Therapeutics by 845.4% during the 2nd 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. Virtus Fund Advisers LLC bought a new position in Mirati Therapeutics during the 4th quarter worth $361,000. Finally, OxFORD Asset Management LLP bought a new position in Mirati Therapeutics during the 3rd quarter worth $365,000. 67.85% of the stock is currently owned by institutional investors and hedge funds.

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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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