Mirati Therapeutics, Inc. (MRTX) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Mirati Therapeutics, Inc. (NASDAQ:MRTX) have been assigned a consensus rating of “Buy” from the twelve analysts that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $14.75.

Several brokerages recently issued reports on MRTX. BidaskClub raised shares of Mirati Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 8th. ValuEngine raised shares of Mirati Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. HC Wainwright lifted their price target on shares of Mirati Therapeutics from $17.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Oppenheimer set a $18.00 price target on shares of Mirati Therapeutics and gave the company a “buy” rating in a report on Monday, January 8th. Finally, Cann reaffirmed a “buy” rating and set a $18.00 price target on shares of Mirati Therapeutics in a report on Monday, January 8th.

In related news, SVP Jamie Christensen sold 10,814 shares of Mirati Therapeutics stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $27.00, for a total transaction of $291,978.00. Following the sale, the senior vice president now directly owns 13,691 shares of the company’s stock, valued at approximately $369,657. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 61,039 shares of company stock worth $1,646,881 over the last ninety days. 5.10% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Mirati Therapeutics by 57.5% during 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 during the last quarter. Jennison Associates LLC bought a new stake in Mirati Therapeutics during the 4th quarter worth approximately $8,899,000. Dimensional Fund Advisors LP grew its holdings in Mirati Therapeutics by 68.7% during 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 during the last quarter. Geode Capital Management LLC grew its holdings in Mirati Therapeutics by 8.7% during the 4th quarter. Geode Capital Management LLC now owns 184,406 shares of the biotechnology company’s stock worth $3,365,000 after acquiring an additional 14,721 shares during the last quarter. Finally, Rock Springs Capital Management LP bought a new stake in Mirati Therapeutics during the 4th quarter worth approximately $3,285,000. 67.85% of the stock is currently owned by hedge funds and other institutional investors.

Mirati Therapeutics (MRTX) opened at $29.60 on Tuesday. The company has a market cap of $799.01, a P/E ratio of -9.52 and a beta of 2.17. Mirati Therapeutics has a 12-month low of $2.70 and a 12-month high of $30.50.

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Mirati Therapeutics Company Profile

Mirati Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of oncology products. The company’s 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.

Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

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