Mirati Therapeutics (NASDAQ:MRTX) had its price objective hoisted by HC Wainwright to $40.00 in a research note released on Monday morning, The Fly reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock.
MRTX has been the subject of several other reports. ValuEngine raised Mirati Therapeutics from a sell rating to a hold rating in a report on Friday, February 2nd. Barclays began coverage on Mirati Therapeutics in a research note on Monday. They issued an overweight rating and a $44.00 price objective for the company. Oppenheimer reaffirmed a buy rating and issued a $18.00 price objective on shares of Mirati Therapeutics in a research note on Wednesday, November 22nd. Citigroup raised their price objective on Mirati Therapeutics from $23.00 to $37.00 and gave the company a buy rating in a research note on Monday, March 5th. Finally, BidaskClub raised Mirati Therapeutics from a hold rating to a buy rating in a research note on Tuesday, January 16th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Mirati Therapeutics has a consensus rating of Buy and an average price target of $25.44.
Shares of Mirati Therapeutics (MRTX) opened at $34.95 on Monday. The company has a market capitalization of $1,001.33, a P/E ratio of -12.53 and a beta of 2.06. Mirati Therapeutics has a 1-year low of $2.70 and a 1-year high of $37.62.
In related news, CFO Jamie A. Donadio sold 51,875 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $27.13, for a total value of $1,407,368.75. Following the completion of the transaction, the chief financial officer now directly owns 9,375 shares of the company’s stock, valued at approximately $254,343.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jamie Christensen sold 10,814 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $27.00, for a total value of $291,978.00. Following the completion of the transaction, the senior vice president now directly owns 13,691 shares of the company’s stock, valued at $369,657. The disclosure for this sale can be found here. Insiders sold a total of 112,914 shares of company stock valued at $3,054,250 over the last ninety days. 5.10% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. purchased a new position in Mirati Therapeutics during the fourth quarter worth $207,000. Citadel Advisors LLC purchased a new position in Mirati Therapeutics during the third quarter worth $268,000. Goldman Sachs Group Inc. increased its position in Mirati Therapeutics by 845.4% during the second quarter. Goldman Sachs Group Inc. now owns 98,251 shares of the biotechnology company’s stock worth $359,000 after buying an additional 87,858 shares in the last quarter. Virtus Fund Advisers LLC purchased a new position in Mirati Therapeutics during the fourth quarter worth $361,000. Finally, OxFORD Asset Management LLP purchased a new position in Mirati Therapeutics during the third quarter worth $365,000. 82.89% of the stock is owned by institutional investors.
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.
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