Mirati Therapeutics, Inc. (MRTX) Given Buy Rating at Oppenheimer Holdings, Inc.

Mirati Therapeutics, Inc. (NASDAQ:MRTX)‘s stock had its “buy” rating reaffirmed by analysts at Oppenheimer Holdings, Inc. in a report released on Wednesday. They currently have a $18.00 price objective on the biotechnology company’s stock. Oppenheimer Holdings, Inc.’s target price suggests a potential upside of 2.27% from the stock’s previous close.

A number of other research firms also recently commented on MRTX. Jefferies Group LLC set a $5.00 target price on shares of Mirati Therapeutics and gave the stock a “hold” rating in a report on Friday, August 4th. ValuEngine downgraded shares of Mirati Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 7th. Leerink Swann boosted their target price on shares of Mirati Therapeutics from $7.00 to $9.00 and gave the stock a “market perform” rating in a research report on Friday, September 15th. Cann started coverage on shares of Mirati Therapeutics in a report on Tuesday, September 19th. They set an “outperform” rating for the company. Finally, Citigroup Inc. reiterated a “buy” rating and set a $16.00 target price (up from $8.00) on shares of Mirati Therapeutics in a research note on Tuesday, September 19th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $13.71.

Mirati Therapeutics (NASDAQ:MRTX) traded up $0.55 on Wednesday, hitting $17.60. 389,000 shares of the stock traded hands, compared to its average volume of 551,724. Mirati Therapeutics has a one year low of $2.70 and a one year high of $19.25.

Mirati Therapeutics (NASDAQ:MRTX) last released its earnings results on Wednesday, November 1st. The biotechnology company reported ($0.65) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.81) by $0.16. equities research analysts forecast that Mirati Therapeutics will post -2.78 earnings per share for the current fiscal year.

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In other news, major shareholder Venbio Select Advisor Llc bought 650,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was acquired at an average cost of $13.00 per share, with a total value of $8,450,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jamie Christensen sold 7,499 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $14.00, for a total transaction of $104,986.00. Following the completion of the transaction, the senior vice president now directly owns 10,169 shares of the company’s stock, valued at $142,366. The disclosure for this sale can be found here. Insiders sold a total of 23,544 shares of company stock worth $365,826 over the last quarter. 5.10% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in Mirati Therapeutics by 22.9% during the first quarter. Bank of New York Mellon Corp now owns 63,004 shares of the biotechnology company’s stock worth $328,000 after acquiring an additional 11,753 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Mirati Therapeutics during the first quarter worth about $677,000. Renaissance Technologies LLC bought a new stake in Mirati Therapeutics in the first quarter valued at approximately $854,000. KCG Holdings Inc. bought a new stake in Mirati Therapeutics in the first quarter valued at approximately $106,000. Finally, LMR Partners LLP bought a new stake in Mirati Therapeutics in the second quarter valued at approximately $236,000. 59.80% of the stock is owned by institutional investors and hedge funds.

Mirati Therapeutics Company Profile

Mirati Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of oncology products. The company’s 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.

Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

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