Mirati Therapeutics (MRTX) Downgraded by BidaskClub to Buy

BidaskClub downgraded shares of Mirati Therapeutics (NASDAQ:MRTX) from a strong-buy rating to a buy rating in a research report released on Tuesday morning, BidAskClub reports.

A number of other research firms have also commented on MRTX. Cowen restated a buy rating on shares of Mirati Therapeutics in a research note on Wednesday, March 13th. Zacks Investment Research upgraded Mirati Therapeutics from a hold rating to a buy rating and set a $84.00 price objective on the stock in a research note on Friday, February 22nd. Oppenheimer restated a buy rating on shares of Mirati Therapeutics in a research note on Tuesday, March 19th. Credit Suisse Group initiated coverage on Mirati Therapeutics in a research note on Monday, March 25th. They set an outperform rating and a $85.00 price objective on the stock. Finally, Citigroup lifted their price target on Mirati Therapeutics from $64.00 to $77.00 and gave the company a neutral rating in a research note on Monday, March 4th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $68.82.

Mirati Therapeutics stock opened at $63.73 on Tuesday. Mirati Therapeutics has a one year low of $26.00 and a one year high of $80.00.

In other Mirati Therapeutics news, major shareholder Boxer Capital, Llc purchased 150,000 shares of the firm’s stock in a transaction dated Thursday, January 17th. The shares were bought at an average price of $62.00 per share, for a total transaction of $9,300,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bruce L. A. Carter sold 3,000 shares of Mirati Therapeutics stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $73.64, for a total value of $220,920.00. Following the completion of the transaction, the director now owns 3,000 shares in the company, valued at approximately $220,920. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,399,911 shares of company stock worth $100,817,770. Corporate insiders own 4.86% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MRTX. Bank of New York Mellon Corp boosted its holdings in shares of Mirati Therapeutics by 348.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 110,138 shares of the biotechnology company’s stock valued at $5,430,000 after acquiring an additional 85,595 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Mirati Therapeutics by 8.8% during the 3rd quarter. BlackRock Inc. now owns 1,578,852 shares of the biotechnology company’s stock valued at $74,364,000 after acquiring an additional 127,638 shares in the last quarter. United Services Automobile Association boosted its holdings in shares of Mirati Therapeutics by 38.8% during the 3rd quarter. United Services Automobile Association now owns 7,049 shares of the biotechnology company’s stock valued at $332,000 after acquiring an additional 1,969 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Mirati Therapeutics by 2,013.0% during the 3rd quarter. Renaissance Technologies LLC now owns 97,200 shares of the biotechnology company’s stock valued at $4,578,000 after acquiring an additional 92,600 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Mirati Therapeutics during the 3rd quarter valued at $333,000.

About Mirati Therapeutics

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.

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