Pictet Asset Management Ltd. bought a new stake in Mirati Therapeutics Inc (NASDAQ:MRTX) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 191,529 shares of the biotechnology company’s stock, valued at approximately $9,021,000. Pictet Asset Management Ltd. owned about 0.59% of Mirati Therapeutics at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MRTX. BlackRock Inc. lifted its stake in shares of Mirati Therapeutics by 128.8% in the 2nd quarter. BlackRock Inc. now owns 1,451,214 shares of the biotechnology company’s stock valued at $71,544,000 after acquiring an additional 816,980 shares during the last quarter. FMR LLC lifted its stake in shares of Mirati Therapeutics by 67.5% in the 2nd quarter. FMR LLC now owns 1,986,315 shares of the biotechnology company’s stock valued at $97,926,000 after acquiring an additional 800,223 shares during the last quarter. Janus Henderson Group PLC bought a new stake in shares of Mirati Therapeutics in the 2nd quarter valued at about $32,639,000. OppenheimerFunds Inc. bought a new stake in shares of Mirati Therapeutics in the 2nd quarter valued at about $26,072,000. Finally, Credit Suisse AG lifted its stake in shares of Mirati Therapeutics by 1,682.9% in the 3rd quarter. Credit Suisse AG now owns 449,408 shares of the biotechnology company’s stock valued at $21,167,000 after acquiring an additional 424,202 shares during the last quarter.
A number of research firms have commented on MRTX. Guggenheim began coverage on Mirati Therapeutics in a research report on Monday, September 17th. They set a “neutral” rating for the company. Cowen reaffirmed a “buy” rating on shares of Mirati Therapeutics in a research report on Thursday, September 27th. Cann reaffirmed a “buy” rating and set a $62.00 price target on shares of Mirati Therapeutics in a research report on Sunday, October 21st. Zacks Investment Research raised Mirati Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. Finally, BidaskClub raised Mirati Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, November 8th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Mirati Therapeutics has an average rating of “Buy” and a consensus target price of $55.50.
MRTX opened at $39.12 on Friday. Mirati Therapeutics Inc has a one year low of $15.35 and a one year high of $65.35.
Mirati Therapeutics (NASDAQ:MRTX) last released its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.85) EPS for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.02. On average, sell-side analysts anticipate that Mirati Therapeutics Inc will post -3.12 earnings per share for the current fiscal year.
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Mirati Therapeutics Company Profile
Mirati Therapeutics, Inc, a clinical-stage oncology company, develops targeted therapeutics to address the genetic, epigenetic, and immunological promoters of cancer. The company is involved in developing sitravatinib, an oral spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of solid tumor; and in Phase Ib clinical trial to treat non-small cell lung cancer (NCSLC) patients with CBL, chromosome 4q12, and RET genetic alterations, as well as mocetinostat, an orally administered spectrum-selective Class 1 histone deacetylase inhibitor that is in Phase II clinical trial in combination with durvalumab for the treatment of patients with NSCLC.
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