HC Wainwright Reiterates Buy Rating for Mirati Therapeutics, Inc. (MRTX)
Mirati Therapeutics, Inc. (NASDAQ:MRTX)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research report issued to clients and investors on Tuesday.
MRTX has been the topic of a number of other research reports. Zacks Investment Research cut shares of Mirati Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. ValuEngine upgraded shares of Mirati Therapeutics from a “strong sell” rating to a “sell” rating in a report on Friday, September 15th. Oppenheimer Holdings, Inc. assumed coverage on shares of Mirati Therapeutics in a report on Monday, September 18th. They set an “outperform” rating and a $18.00 price target on the stock. SunTrust Banks, Inc. reiterated a “buy” rating and set a $13.00 price target on shares of Mirati Therapeutics in a report on Thursday, October 12th. Finally, Leerink Swann increased their price target on shares of Mirati Therapeutics from $7.00 to $9.00 and gave the company a “market perform” rating in a report on Friday, September 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $14.14.
Shares of Mirati Therapeutics (MRTX) traded up $0.45 on Tuesday, reaching $15.50. 390,500 shares of the company’s stock were exchanged, compared to its average volume of 539,018. Mirati Therapeutics has a twelve month low of $2.70 and a twelve month high of $16.50.
In related news, SVP Jamie Christensen sold 7,499 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $14.00, for a total transaction of $104,986.00. Following the transaction, the senior vice president now owns 10,169 shares in the company, valued at $142,366. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 12,269 shares of company stock worth $170,226. 5.10% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of MRTX. Baker BROS. Advisors LP bought a new position in Mirati Therapeutics during the third quarter valued at approximately $14,999,000. Boxer Capital LLC bought a new position in Mirati Therapeutics during the fourth quarter valued at approximately $63,934,000. Broadfin Capital LLC lifted its position in Mirati Therapeutics by 153.1% during the first quarter. Broadfin Capital LLC now owns 2,090,801 shares of the biotechnology company’s stock valued at $10,872,000 after purchasing an additional 1,264,800 shares during the period. Aviva Holdings Ltd. lifted its position in Mirati Therapeutics by 195.9% during the first quarter. Aviva Holdings Ltd. now owns 1,546,001 shares of the biotechnology company’s stock valued at $33,328,000 after purchasing an additional 1,023,501 shares during the period. Finally, Ghost Tree Capital LLC bought a new position in Mirati Therapeutics during the fourth quarter valued at approximately $7,900,000. Institutional investors own 59.49% of the company’s stock.
Mirati Therapeutics Company Profile
Mirati Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of oncology products. The companys 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.
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