Mirati Therapeutics (NASDAQ:MRTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.
According to Zacks, “Mirati Therapeutics, Inc. is a biopharmaceutical company. It engaged in the development of novel therapeutics for the treatment of cancer. Mirati Therapeutics, Inc., formerly known as MethylGene Inc., is based in Montreal, Canada. “
A number of other research firms also recently issued reports on MRTX. HC Wainwright boosted their target price on shares of Mirati Therapeutics to $40.00 and gave the company a “buy” rating in a research report on Monday. Barclays assumed coverage on shares of Mirati Therapeutics in a research report on Monday. They set an “overweight” rating and a $44.00 target price on the stock. SunTrust Banks boosted their target price on shares of Mirati Therapeutics to $40.00 and gave the company a “buy” rating in a research report on Friday, March 9th. BidaskClub upgraded shares of Mirati Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 8th. Finally, Citigroup upped their price objective on shares of Mirati Therapeutics from $23.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, March 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $25.44.
Mirati Therapeutics (NASDAQ MRTX) opened at $34.25 on Thursday. Mirati Therapeutics has a 1 year low of $2.70 and a 1 year high of $37.62. The stock has a market cap of $981.07, a price-to-earnings ratio of -12.32 and a beta of 2.00.
Mirati Therapeutics (NASDAQ:MRTX) last released its earnings results on Thursday, March 8th. The biotechnology company reported ($0.67) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.61) by ($0.06). equities research analysts expect that Mirati Therapeutics will post -2.46 earnings per share for the current year.
In other news, CFO Jamie A. Donadio sold 12,100 shares of the company’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $35.00, for a total value of $423,500.00. Following the completion of the sale, the chief financial officer now owns 12,100 shares in the company, valued at approximately $423,500. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jamie Christensen sold 10,814 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $27.00, for a total transaction of $291,978.00. Following the completion of the sale, the senior vice president now owns 13,691 shares of the company’s stock, valued at approximately $369,657. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 125,014 shares of company stock worth $3,477,750. Corporate insiders own 5.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of MRTX. Jennison Associates LLC bought a new stake in shares of Mirati Therapeutics in the 4th quarter worth $8,899,000. BlackRock Inc. grew its stake in shares of Mirati Therapeutics by 57.5% in the 4th quarter. BlackRock Inc. now owns 510,362 shares of the biotechnology company’s stock worth $9,314,000 after acquiring an additional 186,419 shares in the last quarter. Rock Springs Capital Management LP bought a new stake in shares of Mirati Therapeutics in the 4th quarter worth $3,285,000. Bogle Investment Management L P DE bought a new stake in shares of Mirati Therapeutics in the 4th quarter worth $2,512,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Mirati Therapeutics by 68.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 336,667 shares of the biotechnology company’s stock worth $3,939,000 after acquiring an additional 137,104 shares in the last quarter. Hedge funds and other institutional investors own 82.89% 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 companys 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.
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