Mirati Therapeutics, Inc. (NASDAQ:MRTX) was the target of some unusual options trading activity on Monday. Stock investors bought 641 call options on the company. This represents an increase of 871% compared to the average daily volume of 66 call options.
A number of brokerages have recently commented on MRTX. HC Wainwright increased their target price on shares of Mirati Therapeutics to $40.00 and gave the company a “buy” rating in a research report on Monday. Barclays began coverage on shares of Mirati Therapeutics in a research report on Monday. They issued an “overweight” rating and a $44.00 target price for the company. BidaskClub upgraded shares of Mirati Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 8th. ValuEngine cut shares of Mirati Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Finally, Citigroup raised their price objective on shares of Mirati Therapeutics from $23.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, March 5th. 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 stock. Mirati Therapeutics has an average rating of “Buy” and a consensus target price of $25.44.
In other news, CFO Jamie A. Donadio sold 51,875 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $27.13, for a total value of $1,407,368.75. Following the completion of the sale, the chief financial officer now directly owns 9,375 shares in the company, valued at $254,343.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jamie Christensen sold 14,725 shares of the stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $22.99, for a total transaction of $338,527.75. Following the completion of the sale, the senior vice president now owns 6,395 shares of the company’s stock, valued at $147,021.05. The disclosure for this sale can be found here. Insiders sold 112,914 shares of company stock valued at $3,054,250 over the last quarter. Company insiders own 5.10% of the company’s stock.
Shares of Mirati Therapeutics (MRTX) opened at $34.95 on Tuesday. Mirati Therapeutics has a 12-month low of $2.70 and a 12-month high of $37.62. The stock has a market cap of $1,001.33, a PE ratio of -12.53 and a beta of 2.06.
Mirati Therapeutics (NASDAQ:MRTX) last released its quarterly earnings data on Thursday, March 8th. The biotechnology company reported ($0.67) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by ($0.06). research analysts forecast that Mirati Therapeutics will post -2.49 EPS for the current fiscal year.
About Mirati Therapeutics
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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