Mirati Therapeutics (NASDAQ:MRTX) Downgraded by BidaskClub

BidaskClub cut shares of Mirati Therapeutics (NASDAQ:MRTX) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday, BidAskClub reports.

Several other research firms have also issued reports on MRTX. Citigroup raised OIL SEARCH LTD/ADR from a sell rating to a neutral rating in a report on Tuesday, June 4th. Credit Suisse Group set a $155.00 target price on Allergan and gave the company a hold rating in a report on Monday, March 25th. Barclays reissued an overweight rating and set a GBX 3,150 ($41.16) price objective on shares of in a report on Wednesday, June 5th. Cantor Fitzgerald increased their price objective on Mirati Therapeutics from $66.00 to $85.00 and gave the company a positive rating in a report on Tuesday, June 4th. Finally, HC Wainwright reissued a buy rating on shares of Zomedica Pharmaceuticals in a report on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Mirati Therapeutics has an average rating of Buy and an average target price of $94.70.

MRTX stock opened at $106.00 on Thursday. The firm has a 50 day simple moving average of $100.04. Mirati Therapeutics has a 12-month low of $28.50 and a 12-month high of $109.64.

Mirati Therapeutics (NASDAQ:MRTX) last released its earnings results on Monday, April 29th. The biotechnology company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($0.20). The firm had revenue of $1.24 million during the quarter. On average, analysts anticipate that Mirati Therapeutics will post -4.97 EPS for the current year.

In other news, Director Bruce L. A. Carter sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $75.20, for a total value of $225,600.00. Following the completion of the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at $225,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Boxer Capital, Llc sold 725,008 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $98.30, for a total value of $71,268,286.40. The disclosure for this sale can be found here. Insiders sold 741,268 shares of company stock valued at $72,432,514 over the last ninety days. Corporate insiders own 4.86% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its holdings in shares of Mirati Therapeutics by 7.9% in the first quarter. Meeder Asset Management Inc. now owns 2,252 shares of the biotechnology company’s stock worth $166,000 after acquiring an additional 165 shares during the period. United Services Automobile Association raised its position in shares of Mirati Therapeutics by 2.5% in the fourth quarter. United Services Automobile Association now owns 7,222 shares of the biotechnology company’s stock worth $306,000 after buying an additional 173 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Mirati Therapeutics by 2.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 10,192 shares of the biotechnology company’s stock worth $747,000 after buying an additional 290 shares in the last quarter. American International Group Inc. raised its position in shares of Mirati Therapeutics by 2.9% in the first quarter. American International Group Inc. now owns 13,664 shares of the biotechnology company’s stock worth $1,002,000 after buying an additional 383 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY raised its position in shares of Mirati Therapeutics by 6.5% in the first quarter. Metropolitan Life Insurance Co NY now owns 6,870 shares of the biotechnology company’s stock worth $503,000 after buying an additional 419 shares in the last quarter.

About Mirati Therapeutics

Mirati Therapeutics, Inc, a clinical-stage oncology company, develops product candidates to address the genetic and immunological promoters of cancer in the United States. The company is involved in developing sitravatinib, a spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of non-small cell lung cancer (NCSLC); and in Phase Ib clinical trial to treat NCSLC patients with Casitas B-lineage Lymphoma genetic alterations, as well as KRAS G12C inhibitor program for NSCLC adenocarcinoma patients, colorectal cancer patients, and other cancers.

Further Reading: Using the New Google Finance Tool

Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

Receive News & Ratings for Mirati Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mirati Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.