Mirati Therapeutics, Inc. (NASDAQ:MRTX) had its target price lifted by investment analysts at Leerink Swann from $7.00 to $9.00 in a research note issued on Friday, MarketBeat.com reports. The firm presently has a “market perform” rating on the biotechnology company’s stock. Leerink Swann’s price objective points to a potential downside of 19.64% from the stock’s current price.

Several other analysts have also recently commented on MRTX. ValuEngine cut shares of Mirati Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. Jefferies Group LLC reiterated a “hold” rating and issued a $4.50 price objective on shares of Mirati Therapeutics in a research note 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 presently has a consensus rating of “Hold” and a consensus target price of $8.15.

Mirati Therapeutics (NASDAQ:MRTX) traded up 135.79% during mid-day trading on Friday, hitting $11.20. 48,757,822 shares of the stock were exchanged. The company has a 50-day moving average price of $5.03 and a 200-day moving average price of $4.45. Mirati Therapeutics has a one year low of $2.70 and a one year high of $12.40. The company’s market cap is $279.65 million.

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Institutional investors and hedge funds have recently made changes to their positions in the business. KCG Holdings Inc. acquired a new position in Mirati Therapeutics during the first quarter worth about $106,000. Susquehanna International Group LLP raised its position in Mirati Therapeutics by 46.5% during the second quarter. Susquehanna International Group LLP now owns 50,509 shares of the biotechnology company’s stock worth $184,000 after acquiring an additional 16,030 shares during the last quarter. PDT Partners LLC acquired a new position in Mirati Therapeutics during the second quarter worth about $200,000. Trexquant Investment LP raised its position in Mirati Therapeutics by 62.2% during the first quarter. Trexquant Investment LP now owns 42,879 shares of the biotechnology company’s stock worth $223,000 after acquiring an additional 16,447 shares during the last quarter. Finally, LMR Partners LLP acquired a new position in Mirati Therapeutics during the second quarter worth about $236,000. Institutional investors own 60.17% of the company’s stock.

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.

Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

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