Mirati Therapeutics (NASDAQ:MRTX) Upgraded by ValuEngine to “Buy”

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.

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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.

Mirati Therapeutics (NASDAQ:MRTX) last posted its earnings results on Thursday, March 8th. The biotechnology company reported ($0.67) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by ($0.06). sell-side analysts forecast that Mirati Therapeutics will post -2.53 EPS for the current fiscal year.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

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