Jefferies Financial Group Initiates Coverage on Mirati Therapeutics (NASDAQ:MRTX)

Research analysts at Jefferies Financial Group started coverage on shares of Mirati Therapeutics (NASDAQ:MRTX) in a research note issued on Monday, Analyst Ratings Network reports. The brokerage set a “buy” rating and a $193.00 price target on the biotechnology company’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 8.76% from the stock’s current price.

MRTX has been the subject of several other reports. SVB Leerink reaffirmed a “buy” rating on shares of Mirati Therapeutics in a research note on Sunday. Citigroup raised shares of Mirati Therapeutics from a “neutral” rating to a “buy” rating in a research note on Friday, June 4th. Morgan Stanley started coverage on shares of Mirati Therapeutics in a research report on Thursday, August 26th. They set an “equal weight” rating and a $160.00 target price for the company. raised shares of Mirati Therapeutics from a “neutral” rating to a “buy” rating in a research report on Friday, June 4th. Finally, Oppenheimer reissued a “market perform” rating and set a $160.00 target price (down from $245.00) on shares of Mirati Therapeutics in a research report on Monday, May 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $211.87.

MRTX opened at $177.45 on Monday. Mirati Therapeutics has a 1-year low of $131.46 and a 1-year high of $249.42. The company has a market cap of $9.16 billion, a P/E ratio of -17.85 and a beta of 1.37. The company has a fifty day moving average price of $158.70 and a two-hundred day moving average price of $163.06.

Mirati Therapeutics (NASDAQ:MRTX) last posted its quarterly earnings results on Thursday, August 5th. The biotechnology company reported ($3.23) earnings per share for the quarter, missing the consensus estimate of ($2.40) by ($0.83). As a group, analysts forecast that Mirati Therapeutics will post -11.76 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE raised its position in shares of Mirati Therapeutics by 84.7% in the first quarter. US Bancorp DE now owns 157 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 72 shares during the period. Great West Life Assurance Co. Can raised its position in shares of Mirati Therapeutics by 5.0% in the first quarter. Great West Life Assurance Co. Can now owns 2,222 shares of the biotechnology company’s stock valued at $378,000 after purchasing an additional 105 shares during the period. Allianz Asset Management GmbH raised its position in shares of Mirati Therapeutics by 0.6% in the second quarter. Allianz Asset Management GmbH now owns 23,674 shares of the biotechnology company’s stock valued at $3,824,000 after purchasing an additional 143 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Mirati Therapeutics in the second quarter valued at approximately $27,000. Finally, Envestnet Asset Management Inc. raised its position in shares of Mirati Therapeutics by 15.9% in the first quarter. Envestnet Asset Management Inc. now owns 1,593 shares of the biotechnology company’s stock valued at $273,000 after purchasing an additional 219 shares during the period.

Mirati Therapeutics Company Profile

Mirati Therapeutics, Inc operates as a clinical-stage oncology company, which engages in the development of novel therapeutics. The firm’s products targets the genetic and immunological promoters of cancer. Its clinical pipeline consists of Adagrasib, MRTX1133, and Sitravatinib. The company was founded on December 13, 1995 and is headquartered in San Diego, CA.

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Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

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