Mirati Therapeutics, Inc. (NASDAQ:MRTX) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday.

Separately, Jefferies Group LLC reaffirmed a “hold” rating and set a $4.50 price target on shares of Mirati Therapeutics in a research report on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $7.75.

Shares of Mirati Therapeutics (MRTX) traded up 1.00% on Thursday, reaching $5.05. 128,385 shares of the company traded hands. Mirati Therapeutics has a 52-week low of $2.70 and a 52-week high of $7.22. The stock has a 50 day moving average of $5.03 and a 200 day moving average of $4.47. The stock’s market cap is $126.09 million.

WARNING: “Mirati Therapeutics, Inc. (MRTX) Downgraded by ValuEngine to “Strong Sell”” was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this report on another publication, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/09/07/mirati-therapeutics-inc-mrtx-downgraded-by-valuengine-to-strong-sell.html.

Institutional investors and hedge funds have recently modified their holdings of the company. KCG Holdings Inc. bought a new position in shares of Mirati Therapeutics in the first quarter valued at about $106,000. Trexquant Investment LP raised its position in shares of Mirati Therapeutics by 62.2% in the first quarter. Trexquant Investment LP now owns 42,879 shares of the biotechnology company’s stock valued at $223,000 after purchasing an additional 16,447 shares during the period. Susquehanna International Group LLP raised its position in shares of Mirati Therapeutics by 46.5% in the second quarter. Susquehanna International Group LLP now owns 50,509 shares of the biotechnology company’s stock valued at $184,000 after purchasing an additional 16,030 shares during the period. PDT Partners LLC bought a new position in shares of Mirati Therapeutics in the second quarter valued at about $200,000. Finally, Bank of New York Mellon Corp raised its position in shares of Mirati Therapeutics by 22.9% in the first quarter. Bank of New York Mellon Corp now owns 63,004 shares of the biotechnology company’s stock valued at $328,000 after purchasing an additional 11,753 shares during the period. 60.17% of the stock is currently owned by institutional investors.

About Mirati Therapeutics

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.

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

Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

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