ValuEngine upgraded shares of Mirati Therapeutics (NASDAQ:MRTX) from a hold rating to a buy rating in a research report sent to investors on Monday, April 2nd.
Other equities analysts have also issued reports about the company. BidaskClub lowered Mirati Therapeutics from a strong-buy rating to a buy rating in a report on Thursday, March 29th. HC Wainwright increased their price objective on Mirati Therapeutics to $40.00 and gave the stock a buy rating in a report on Monday, March 12th. SunTrust Banks increased their price objective on Mirati Therapeutics to $40.00 and gave the stock a buy rating in a report on Friday, March 9th. Citigroup upped their target price on Mirati Therapeutics from $23.00 to $37.00 and gave the stock a buy rating in a research report on Monday, March 5th. Finally, Oppenheimer set a $18.00 target price on Mirati Therapeutics and gave the stock a buy rating in a research report on Monday, January 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the stock. Mirati Therapeutics presently has an average rating of Buy and an average target price of $25.44.
Shares of NASDAQ:MRTX traded up $0.45 during trading on Monday, hitting $29.25. 298,498 shares of the company traded hands, compared to its average volume of 423,637. The firm has a market capitalization of $881.23, a PE ratio of -10.52 and a beta of 2.15. Mirati Therapeutics has a one year low of $2.70 and a one year high of $37.62.
In other news, CFO Jamie A. Donadio sold 12,100 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $35.00, for a total value of $423,500.00. Following the completion of the sale, the chief financial officer now owns 12,100 shares in the company, valued at $423,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jamie A. Donadio sold 51,875 shares of the stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $27.13, for a total value of $1,407,368.75. Following the completion of the sale, the chief financial officer now owns 9,375 shares of the company’s stock, valued at approximately $254,343.75. The disclosure for this sale can be found here. Insiders have sold a total of 99,475 shares of company stock valued at $2,847,244 in the last quarter. Insiders own 5.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Mirati Therapeutics in the fourth quarter valued at $207,000. Virtus Fund Advisers LLC purchased a new stake in shares of Mirati Therapeutics in the fourth quarter valued at $361,000. Lazard Asset Management LLC acquired a new position in shares of Mirati Therapeutics in the fourth quarter worth $371,000. Citadel Advisors LLC acquired a new position in shares of Mirati Therapeutics in the third quarter worth $268,000. Finally, Perceptive Advisors LLC acquired a new position in shares of Mirati Therapeutics in the fourth quarter worth $531,000. Institutional investors own 77.30% of the company’s stock.
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Mirati Therapeutics Company Profile
Mirati Therapeutics, Inc, a clinical-stage oncology company, develops targeted therapeutics to address the genetic, epigenetic, and immunological promoters of cancer. The company is involved in developing sitravatinib, an oral spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of solid tumor; and in Phase Ib clinical trial to treat non-small cell lung cancer (NCSLC) patients with CBL, chromosome 4q12, and RET genetic alterations, as well as mocetinostat, an orally administered spectrum-selective Class 1 histone deacetylase inhibitor that is in Phase II clinical trial in combination with durvalumab for the treatment of patients with NSCLC.
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