Mirati Therapeutics Inc (NASDAQ:MRTX) has earned a consensus recommendation of “Buy” from the seventeen brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $92.38.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Mirati Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. BidaskClub raised shares of Mirati Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 11th. Cowen reaffirmed a “buy” rating on shares of Mirati Therapeutics in a report on Tuesday, June 4th. Barclays increased their price objective on shares of Mirati Therapeutics from $85.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, June 5th. Finally, Guggenheim lowered shares of Mirati Therapeutics from a “buy” rating to a “neutral” rating and set a $95.56 price objective for the company. in a report on Friday, June 7th.
Mirati Therapeutics stock traded up $6.16 during midday trading on Monday, hitting $100.42. The stock had a trading volume of 518,936 shares, compared to its average volume of 740,305. The stock has a fifty day moving average of $75.61. The stock has a market capitalization of $3.40 billion, a P/E ratio of -31.48 and a beta of 1.68. Mirati Therapeutics has a 52-week low of $28.50 and a 52-week high of $102.59.
In related news, major shareholder Venbio Select Advisor Llc sold 23,781 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $72.80, for a total value of $1,731,256.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce L. A. Carter sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $75.20, for a total transaction of $225,600.00. Following the completion of the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at $225,600. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,041 shares of company stock valued at $2,895,485. 4.70% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC lifted its position in Mirati Therapeutics by 109.7% in the first quarter. FMR LLC now owns 4,606,270 shares of the biotechnology company’s stock worth $337,640,000 after buying an additional 2,409,882 shares during the last quarter. BlackRock Inc. lifted its position in Mirati Therapeutics by 30.0% in the fourth quarter. BlackRock Inc. now owns 2,052,949 shares of the biotechnology company’s stock worth $87,086,000 after buying an additional 474,097 shares during the last quarter. Janus Henderson Group PLC lifted its position in Mirati Therapeutics by 88.6% in the first quarter. Janus Henderson Group PLC now owns 2,034,744 shares of the biotechnology company’s stock worth $149,147,000 after buying an additional 956,022 shares during the last quarter. Jennison Associates LLC lifted its position in Mirati Therapeutics by 21.8% in the fourth quarter. Jennison Associates LLC now owns 1,216,464 shares of the biotechnology company’s stock worth $51,602,000 after buying an additional 217,960 shares during the last quarter. Finally, OppenheimerFunds Inc. lifted its position in Mirati Therapeutics by 0.4% in the first quarter. OppenheimerFunds Inc. now owns 819,956 shares of the biotechnology company’s stock worth $60,103,000 after buying an additional 3,146 shares during the last quarter.
Mirati Therapeutics Company Profile
Mirati Therapeutics, Inc, a clinical-stage oncology company, develops product candidates to address the genetic and immunological promoters of cancer in the United States. The company is involved in developing sitravatinib, a spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of non-small cell lung cancer (NCSLC); and in Phase Ib clinical trial to treat NCSLC patients with Casitas B-lineage Lymphoma genetic alterations, as well as KRAS G12C inhibitor program for NSCLC adenocarcinoma patients, colorectal cancer patients, and other cancers.
Read More: Cryptocurrencies
Receive News & Ratings for Mirati Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mirati Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.