ValuEngine upgraded shares of Mirati Therapeutics, Inc. (NASDAQ:MRTX) from a sell rating to a hold rating in a research report released on Thursday.
A number of other brokerages have also issued reports on MRTX. Oppenheimer Holdings, Inc. started coverage on shares of Mirati Therapeutics in a research note on Monday, September 18th. They set an outperform rating and a $18.00 target price for the company. Zacks Investment Research downgraded Mirati Therapeutics from a hold rating to a sell rating in a report on Thursday, October 5th. SunTrust Banks, Inc. restated a buy rating and issued a $13.00 price objective on shares of Mirati Therapeutics in a report on Monday, October 2nd. CIBC started coverage on Mirati Therapeutics in a report on Tuesday, September 19th. They issued an outperform rating and a $18.00 price objective for the company. Finally, Leerink Swann lifted their price objective on Mirati Therapeutics from $7.00 to $9.00 and gave the company a market perform rating in a report on Friday, September 15th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $13.71.
Mirati Therapeutics (MRTX) traded down $1.75 during midday trading on Thursday, reaching $17.25. 912,635 shares of the company’s stock traded hands, compared to its average volume of 553,318. Mirati Therapeutics has a 52 week low of $2.70 and a 52 week high of $19.25.
In related news, major shareholder Venbio Select Advisor Llc acquired 650,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were purchased at an average price of $13.00 per share, for a total transaction of $8,450,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jamie Christensen sold 7,499 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $14.00, for a total transaction of $104,986.00. Following the transaction, the senior vice president now owns 10,169 shares in the company, valued at approximately $142,366. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,544 shares of company stock worth $355,176. Corporate insiders own 5.10% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. KCG Holdings Inc. purchased a new stake in Mirati Therapeutics in the first quarter valued at approximately $106,000. Susquehanna International Group LLP boosted its position in Mirati Therapeutics by 46.5% in the second quarter. Susquehanna International Group LLP now owns 50,509 shares of the biotechnology company’s stock valued at $184,000 after buying an additional 16,030 shares during the last quarter. PDT Partners LLC purchased a new stake in Mirati Therapeutics in the second quarter valued at approximately $200,000. LMR Partners LLP purchased a new stake in Mirati Therapeutics in the second quarter valued at approximately $236,000. Finally, Citadel Advisors LLC purchased a new stake in Mirati Therapeutics in the third quarter valued at approximately $268,000. Hedge funds and other institutional investors own 59.49% of the company’s stock.
About Mirati Therapeutics
Mirati Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of oncology products. The companys 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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