Mirati Therapeutics (NASDAQ:MRTX) had its price target raised by HC Wainwright from $17.00 to $21.00 in a research report report published on Tuesday, Marketbeat.com reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock.
MRTX has been the topic of a number of other reports. Zacks Investment Research cut Mirati Therapeutics from a hold rating to a sell rating in a report on Thursday, October 5th. ValuEngine raised Mirati Therapeutics from a strong sell rating to a sell rating in a report on Friday, September 15th. Leerink Swann raised Mirati Therapeutics from a market perform rating to an outperform rating and set a $9.00 price target on the stock in a report on Tuesday, November 14th. Oppenheimer assumed coverage on Mirati Therapeutics in a report on Monday, September 18th. They set an outperform rating and a $18.00 price target on the stock. Finally, Cowen assumed coverage on Mirati Therapeutics in a report on Thursday, December 21st. They set an outperform rating on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. Mirati Therapeutics presently has an average rating of Buy and an average price target of $14.75.
Shares of Mirati Therapeutics (NASDAQ MRTX) traded up $1.55 during trading on Tuesday, reaching $24.75. The company had a trading volume of 954,972 shares, compared to its average volume of 391,477. Mirati Therapeutics has a one year low of $2.70 and a one year high of $25.20. The company has a market cap of $626.25, a PE ratio of -7.96 and a beta of 1.61.
Mirati Therapeutics (NASDAQ:MRTX) last announced its earnings results on Wednesday, November 1st. The biotechnology company reported ($0.65) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.81) by $0.16. research analysts anticipate that Mirati Therapeutics will post -2.73 EPS for the current fiscal year.
In other news, SVP Jamie Christensen sold 14,725 shares of Mirati Therapeutics stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $22.99, for a total value of $338,527.75. Following the sale, the senior vice president now directly owns 6,395 shares of the company’s stock, valued at $147,021.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Venbio Select Advisor Llc bought 650,000 shares of Mirati Therapeutics stock in a transaction dated Thursday, November 16th. The stock was purchased at an average cost of $13.00 per share, for a total transaction of $8,450,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 32,499 shares of company stock worth $628,464. Insiders own 5.10% of the company’s stock.
Several hedge funds have recently modified their holdings of MRTX. Royce & Associates LP increased its holdings in shares of Mirati Therapeutics by 88.7% in the second quarter. Royce & Associates LP now owns 251,100 shares of the biotechnology company’s stock worth $917,000 after purchasing an additional 118,063 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Mirati Therapeutics by 53.3% in the second quarter. Dimensional Fund Advisors LP now owns 199,563 shares of the biotechnology company’s stock worth $728,000 after purchasing an additional 69,377 shares during the last quarter. PDT Partners LLC bought a new stake in shares of Mirati Therapeutics in the second quarter worth about $200,000. Goldman Sachs Group Inc. increased its holdings in shares of Mirati Therapeutics by 845.4% in the second quarter. Goldman Sachs Group Inc. now owns 98,251 shares of the biotechnology company’s stock worth $359,000 after purchasing an additional 87,858 shares during the last quarter. Finally, Susquehanna International Group LLP increased its holdings in shares of Mirati Therapeutics by 46.5% in the second quarter. Susquehanna International Group LLP now owns 50,509 shares of the biotechnology company’s stock worth $184,000 after purchasing an additional 16,030 shares during the last quarter. 64.68% of the stock is currently owned by hedge funds and other institutional investors.
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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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