Mirati Therapeutics (MRTX) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Mirati Therapeutics (NASDAQ:MRTX) from a hold rating to a buy rating in a report released on Monday morning.

Several other research firms have also recently issued reports on MRTX. Barclays assumed coverage on shares of Mirati Therapeutics in a report on Monday, March 12th. They issued an overweight rating and a $44.00 price objective for the company. HC Wainwright increased their price objective on shares of Mirati Therapeutics to $40.00 and gave the company a buy rating in a report on Monday, March 12th. Zacks Investment Research cut shares of Mirati Therapeutics from a hold rating to a sell rating in a report on Thursday, March 15th. SunTrust Banks increased their price objective on shares of Mirati Therapeutics to $40.00 and gave the company a buy rating in a report on Friday, March 9th. Finally, BidaskClub upgraded shares of Mirati Therapeutics from a buy rating to a strong-buy rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $25.44.

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Mirati Therapeutics stock opened at $27.70 on Monday. Mirati Therapeutics has a 12-month low of $2.70 and a 12-month high of $37.62.

Mirati Therapeutics (NASDAQ:MRTX) last posted its quarterly earnings data on Thursday, March 8th. The biotechnology company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.06). equities analysts forecast that Mirati Therapeutics will post -2.53 EPS for the current fiscal year.

In related news, CFO Jamie A. Donadio sold 12,100 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $35.00, for a total transaction of $423,500.00. Following the completion of the sale, the chief financial officer now directly owns 12,100 shares in the company, valued at $423,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jamie Christensen sold 14,725 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $22.99, for a total transaction of $338,527.75. Following 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 have sold 125,014 shares of company stock valued at $3,477,750 over the last 90 days. 5.10% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of MRTX. Raymond James Financial Services Advisors Inc. bought a new stake in Mirati Therapeutics during the fourth quarter worth approximately $207,000. Citadel Advisors LLC bought a new stake in Mirati Therapeutics during the third quarter worth approximately $268,000. Virtus Fund Advisers LLC bought a new stake in Mirati Therapeutics during the fourth quarter worth approximately $361,000. OxFORD Asset Management LLP bought a new stake in Mirati Therapeutics during the third quarter worth approximately $365,000. Finally, Lazard Asset Management LLC bought a new stake in Mirati Therapeutics during the fourth quarter worth approximately $371,000. Hedge funds and other institutional investors own 77.30% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

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