Mirati Therapeutics, Inc. (NASDAQ:MRTX)‘s stock had its “buy” rating restated by analysts at SunTrust Banks, Inc. in a research note issued to investors on Thursday. They currently have a $13.00 target price on the biotechnology company’s stock. SunTrust Banks, Inc.’s price objective suggests a potential downside of 8.13% from the company’s previous close.

A number of other research firms have also recently issued reports on MRTX. Oppenheimer Holdings, Inc. started coverage on Mirati Therapeutics in a report on Monday, September 18th. They set an “outperform” rating and a $18.00 price objective for the company. ValuEngine upgraded Mirati Therapeutics from a “strong sell” rating to a “sell” rating in a report on Friday, September 15th. Zacks Investment Research cut Mirati Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. CIBC started coverage on Mirati Therapeutics in a report on Tuesday, September 19th. They set an “outperform” rating and a $18.00 price objective for the company. Finally, Leerink Swann boosted their price objective on Mirati Therapeutics from $7.00 to $9.00 and gave the company a “market perform” rating in a report on Friday, September 15th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $13.88.

Shares of Mirati Therapeutics (NASDAQ:MRTX) traded down 1.74% during trading on Thursday, hitting $14.15. The company had a trading volume of 681,582 shares. The company’s market capitalization is $353.31 million. Mirati Therapeutics has a 52 week low of $2.70 and a 52 week high of $15.50. The stock’s 50-day moving average price is $8.95 and its 200 day moving average price is $5.36.

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In other Mirati Therapeutics news, SVP Jamie Christensen sold 4,000 shares of Mirati Therapeutics stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $14.00, for a total transaction of $56,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Aviva Holdings Ltd. raised its position in Mirati Therapeutics by 44.6% during the 1st quarter. Aviva Holdings Ltd. now owns 2,880,702 shares of the biotechnology company’s stock valued at $14,980,000 after purchasing an additional 888,617 shares in the last quarter. Broadfin Capital LLC raised its position in Mirati Therapeutics by 19.1% during the 2nd quarter. Broadfin Capital LLC now owns 2,490,801 shares of the biotechnology company’s stock valued at $9,091,000 after purchasing an additional 400,000 shares in the last quarter. Boxer Capital LLC raised its position in Mirati Therapeutics by 37.0% during the 1st quarter. Boxer Capital LLC now owns 1,037,994 shares of the biotechnology company’s stock valued at $5,398,000 after purchasing an additional 280,059 shares in the last quarter. Sabby Management LLC raised its position in Mirati Therapeutics by 2.1% during the 2nd quarter. Sabby Management LLC now owns 255,100 shares of the biotechnology company’s stock valued at $921,000 after purchasing an additional 5,365 shares in the last quarter. Finally, Royce & Associates LP raised its position in Mirati Therapeutics by 88.7% during the 2nd quarter. Royce & Associates LP now owns 251,100 shares of the biotechnology company’s stock valued at $917,000 after purchasing an additional 118,063 shares in the last quarter. 60.17% of the stock is owned by institutional investors and hedge funds.

Mirati Therapeutics Company Profile

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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