Mirati Therapeutics’ (MRTX) Hold Rating Reaffirmed at Cantor Fitzgerald

Share on StockTwits

Mirati Therapeutics (NASDAQ:MRTX)‘s stock had its “hold” rating restated by analysts at Cantor Fitzgerald in a report issued on Wednesday, AnalystRatings.com reports. They currently have a $66.00 target price on the biotechnology company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 5.36% from the stock’s current price. Cantor Fitzgerald also issued estimates for Mirati Therapeutics’ FY2019 earnings at ($4.93) EPS.

Several other brokerages also recently weighed in on MRTX. Cowen reaffirmed a “buy” rating on shares of Mirati Therapeutics in a report on Wednesday, March 13th. Zacks Investment Research raised shares of Mirati Therapeutics from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a report on Friday, February 22nd. Oppenheimer reaffirmed a “buy” rating on shares of Mirati Therapeutics in a report on Tuesday, March 19th. Credit Suisse Group began coverage on shares of Mirati Therapeutics in a report on Monday, March 25th. They issued an “outperform” rating and a $85.00 target price on the stock. Finally, Citigroup lifted their target price on shares of Mirati Therapeutics from $64.00 to $77.00 and gave the company a “neutral” rating in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. Mirati Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $69.08.

Mirati Therapeutics stock traded up $1.23 during midday trading on Wednesday, hitting $62.64. 14,965 shares of the company’s stock were exchanged, compared to its average volume of 654,148. Mirati Therapeutics has a 12-month low of $28.50 and a 12-month high of $80.00. The company has a market capitalization of $2.21 billion, a P/E ratio of -19.55 and a beta of 1.95.

Mirati Therapeutics (NASDAQ:MRTX) last issued its quarterly earnings data on Monday, April 29th. The biotechnology company reported ($1.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.97) by ($0.20). The business had revenue of $1.24 million for the quarter. As a group, sell-side analysts anticipate that Mirati Therapeutics will post -4.17 earnings per share for the current year.

In related news, Director Bruce L. A. Carter sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $73.64, for a total value of $220,920.00. Following the completion of the sale, the director now owns 3,000 shares in the company, valued at $220,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jamie A. Donadio sold 7,500 shares of the firm’s stock in a transaction dated Friday, February 15th. The shares were 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. Insiders sold 1,382,911 shares of company stock valued at $99,772,950 in the last quarter. Company insiders own 4.86% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. lifted its stake in shares of Mirati Therapeutics by 7.9% in the first quarter. Meeder Asset Management Inc. now owns 2,252 shares of the biotechnology company’s stock valued at $166,000 after purchasing an additional 165 shares during the period. United Services Automobile Association lifted its stake in shares of Mirati Therapeutics by 2.5% in the fourth quarter. United Services Automobile Association now owns 7,222 shares of the biotechnology company’s stock valued at $306,000 after purchasing an additional 173 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in shares of Mirati Therapeutics by 2.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 10,192 shares of the biotechnology company’s stock valued at $747,000 after purchasing an additional 290 shares during the period. TD Asset Management Inc. lifted its stake in shares of Mirati Therapeutics by 1.9% in the fourth quarter. TD Asset Management Inc. now owns 15,800 shares of the biotechnology company’s stock valued at $670,000 after purchasing an additional 300 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Mirati Therapeutics by 16.5% in the fourth quarter. Legal & General Group Plc now owns 3,635 shares of the biotechnology company’s stock valued at $154,000 after purchasing an additional 515 shares during the period. Hedge funds and other institutional investors own 98.67% of the company’s stock.

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.

Featured Article: How to Invest in Marijuana Stocks

Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

Receive News & Ratings for Mirati Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mirati Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.