BidaskClub upgraded shares of Mirati Therapeutics (NASDAQ:MRTX) from a sell rating to a hold rating in a research note issued to investors on Thursday morning, BidAskClub reports.
A number of other analysts also recently weighed in on the company. SunTrust Banks increased their price objective on Mirati Therapeutics to $120.00 and gave the company a buy rating in a report on Tuesday, June 4th. Zacks Investment Research downgraded Mirati Therapeutics from a buy rating to a hold rating in a report on Friday, August 9th. Deutsche Bank started coverage on Mirati Therapeutics in a report on Thursday, July 18th. They issued a hold rating and a $86.00 price objective for the company. Citigroup upgraded Mirati Therapeutics from a neutral rating to a buy rating and increased their price objective for the company from $76.00 to $132.00 in a report on Tuesday, June 4th. Finally, Cantor Fitzgerald decreased their price objective on Mirati Therapeutics from $85.00 to $81.00 and set a neutral rating for the company in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $98.60.
Shares of NASDAQ:MRTX traded up $0.31 during trading on Thursday, hitting $92.31. 1,719 shares of the company were exchanged, compared to its average volume of 507,855. The business’s 50 day moving average is $89.40 and its 200-day moving average is $83.99. The company has a market capitalization of $3.59 billion, a P/E ratio of -28.95 and a beta of 2.07. Mirati Therapeutics has a 1-year low of $28.50 and a 1-year high of $111.99.
Mirati Therapeutics (NASDAQ:MRTX) last posted its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($1.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.18) by ($0.08). The company had revenue of $0.58 million during the quarter. On average, equities research analysts expect that Mirati Therapeutics will post -5.09 EPS for the current year.
In other news, major shareholder Avoro Capital Advisors Llc sold 62,500 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $101.88, for a total transaction of $6,367,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael G. Grey sold 3,042 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $92.27, for a total transaction of $280,685.34. Following the transaction, the director now directly owns 4,840 shares in the company, valued at approximately $446,586.80. The disclosure for this sale can be found here. Insiders have sold a total of 845,360 shares of company stock worth $82,651,250 in the last three months. Insiders own 4.86% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in MRTX. FMR LLC lifted its position in Mirati Therapeutics by 109.7% in the 1st quarter. FMR LLC now owns 4,606,270 shares of the biotechnology company’s stock valued at $337,640,000 after acquiring an additional 2,409,882 shares in the last quarter. Vanguard Group Inc. lifted its position in Mirati Therapeutics by 36.8% in the 2nd quarter. Vanguard Group Inc. now owns 2,984,506 shares of the biotechnology company’s stock valued at $307,404,000 after acquiring an additional 802,468 shares in the last quarter. Perceptive Advisors LLC lifted its position in Mirati Therapeutics by 149.0% in the 2nd quarter. Perceptive Advisors LLC now owns 2,899,606 shares of the biotechnology company’s stock valued at $298,659,000 after acquiring an additional 1,735,224 shares in the last quarter. BlackRock Inc. lifted its position in Mirati Therapeutics by 8.6% in the 2nd quarter. BlackRock Inc. now owns 2,536,034 shares of the biotechnology company’s stock valued at $261,211,000 after acquiring an additional 199,939 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Mirati Therapeutics by 47.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,206,144 shares of the biotechnology company’s stock valued at $124,233,000 after buying an additional 388,516 shares during the last quarter.
Mirati Therapeutics Company Profile
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.
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