Mirati Therapeutics (NASDAQ:MRTX) Upgraded to Strong-Buy by BidaskClub

Mirati Therapeutics (NASDAQ:MRTX) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday, BidAskClub reports.

A number of other analysts have also commented on MRTX. Piper Jaffray Companies initiated coverage on shares of Mirati Therapeutics in a research note on Friday, February 15th. They set an “overweight” rating and a $85.00 price target for the company. HC Wainwright restated a “buy” rating on shares of Mirati Therapeutics in a research note on Friday, February 15th. Svb Leerink restated an “outperform” rating on shares of Mirati Therapeutics in a research note on Friday, February 15th. Zacks Investment Research upgraded shares of Mirati Therapeutics from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research note on Friday, February 22nd. Finally, Citigroup boosted their price target on shares of Mirati Therapeutics from $64.00 to $77.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Mirati Therapeutics has an average rating of “Buy” and a consensus target price of $90.97.

Shares of MRTX stock opened at $94.56 on Tuesday. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of -29.64 and a beta of 1.68. Mirati Therapeutics has a 12 month low of $28.50 and a 12 month high of $102.59.

Mirati Therapeutics (NASDAQ:MRTX) last announced its quarterly earnings results on Monday, April 29th. The biotechnology company reported ($1.17) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.97) by ($0.20). The business had revenue of $1.24 million for the quarter. On average, equities research analysts forecast that Mirati Therapeutics will post -5 earnings per share for the current fiscal year.

In other news, Director Bruce L. A. Carter sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $75.20, for a total value of $225,600.00. Following the completion of the sale, the director now owns 3,000 shares in the company, valued at approximately $225,600. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jamie A. Donadio sold 7,500 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $75.00, for a total transaction of $562,500.00. Following the completion of the sale, the chief financial officer now owns 7,721 shares of the company’s stock, valued at approximately $579,075. The disclosure for this sale can be found here. In the last quarter, insiders sold 165,041 shares of company stock valued at $12,464,235. Company insiders own 4.70% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Meeder Asset Management Inc. boosted its holdings in shares of Mirati Therapeutics by 7.9% in the 1st quarter. Meeder Asset Management Inc. now owns 2,252 shares of the biotechnology company’s stock worth $166,000 after buying an additional 165 shares during the last quarter. United Services Automobile Association boosted its holdings in shares of Mirati Therapeutics by 2.5% in the 4th quarter. United Services Automobile Association now owns 7,222 shares of the biotechnology company’s stock worth $306,000 after buying an additional 173 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Mirati Therapeutics by 2.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 10,192 shares of the biotechnology company’s stock worth $747,000 after buying an additional 290 shares during the last quarter. TD Asset Management Inc. boosted its holdings in shares of Mirati Therapeutics by 1.9% in the 4th quarter. TD Asset Management Inc. now owns 15,800 shares of the biotechnology company’s stock worth $670,000 after buying an additional 300 shares during the last quarter. Finally, American International Group Inc. boosted its holdings in shares of Mirati Therapeutics by 2.9% in the 1st quarter. American International Group Inc. now owns 13,664 shares of the biotechnology company’s stock worth $1,002,000 after buying an additional 383 shares during the last quarter.

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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Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

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