Cowen restated their buy rating on shares of Mirati Therapeutics (NASDAQ:MRTX) in a report released on Tuesday, January 7th, AnalystRatings.com reports.
MRTX has been the topic of a number of other research reports. Cantor Fitzgerald lifted their price target on shares of Mirati Therapeutics from $81.00 to $85.00 and gave the stock a neutral rating in a report on Tuesday, October 29th. HC Wainwright reissued a buy rating on shares of Mirati Therapeutics in a research note on Thursday, October 17th. Zacks Investment Research upgraded Mirati Therapeutics from a sell rating to a hold rating in a report on Thursday, January 2nd. Credit Suisse Group set a $115.00 price objective on Mirati Therapeutics and gave the company a buy rating in a research note on Friday, September 27th. Finally, Guggenheim boosted their target price on shares of Mirati Therapeutics from $116.00 to $128.00 and gave the company a buy rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $105.67.
Shares of Mirati Therapeutics stock traded up $0.81 during trading on Tuesday, reaching $98.85. 14,087 shares of the company’s stock were exchanged, compared to its average volume of 746,252. Mirati Therapeutics has a 1-year low of $55.11 and a 1-year high of $132.59. The firm’s 50-day moving average price is $110.92 and its 200 day moving average price is $96.37. The company has a market cap of $3.87 billion, a P/E ratio of -30.99 and a beta of 2.17.
Mirati Therapeutics (NASDAQ:MRTX) last released its quarterly earnings data on Monday, November 4th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.25) by ($0.13). The company had revenue of $0.99 million for the quarter, compared to analyst estimates of $0.50 million. Mirati Therapeutics had a negative return on equity of 48.60% and a negative net margin of 2,698.66%. As a group, sell-side analysts anticipate that Mirati Therapeutics will post -5.36 EPS for the current fiscal year.
In other news, Director Bruce L. A. Carter sold 3,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $94.74, for a total transaction of $284,220.00. Following the completion of the sale, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $284,220. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Boxer Capital, Llc purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was bought at an average cost of $97.50 per share, for a total transaction of $4,875,000.00. The disclosure for this purchase can be found here. Corporate insiders own 4.86% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Perceptive Advisors LLC raised its stake in shares of Mirati Therapeutics by 149.0% in the second quarter. Perceptive Advisors LLC now owns 2,899,606 shares of the biotechnology company’s stock valued at $298,659,000 after buying an additional 1,735,224 shares during the period. Vanguard Group Inc. lifted its holdings in Mirati Therapeutics by 36.8% during the 2nd quarter. Vanguard Group Inc. now owns 2,984,506 shares of the biotechnology company’s stock worth $307,404,000 after purchasing an additional 802,468 shares in the last quarter. Invesco Ltd. boosted its stake in Mirati Therapeutics by 329.7% in the 2nd quarter. Invesco Ltd. now owns 1,002,795 shares of the biotechnology company’s stock worth $103,288,000 after purchasing an additional 769,429 shares during the period. Orbimed Advisors LLC bought a new position in Mirati Therapeutics in the 3rd quarter worth about $41,693,000. Finally, Renaissance Technologies LLC grew its holdings in Mirati Therapeutics by 792.6% during the 2nd quarter. Renaissance Technologies LLC now owns 449,000 shares of the biotechnology company’s stock valued at $46,247,000 after buying an additional 398,700 shares in 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.
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