Mirati Therapeutics, Inc. (MRTX) Receives Average Recommendation of “Buy” from Brokerages
Shares of Mirati Therapeutics, Inc. (NASDAQ:MRTX) have been given an average rating of “Buy” by the ten brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $13.71.
MRTX has been the subject of several research reports. ValuEngine lowered Mirati Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 7th. Leerink Swann lifted their target price on Mirati Therapeutics from $7.00 to $9.00 and gave the stock a “market perform” rating in a research report on Friday, September 15th. Oppenheimer initiated coverage on Mirati Therapeutics in a research report on Monday, September 18th. They issued an “outperform” rating and a $18.00 target price for the company. Cann initiated coverage on Mirati Therapeutics in a research report on Tuesday, September 19th. They issued an “outperform” rating for the company. Finally, Citigroup reiterated a “buy” rating and issued a $16.00 target price (up previously from $8.00) on shares of Mirati Therapeutics in a research report on Tuesday, September 19th.
Mirati Therapeutics (NASDAQ:MRTX) opened at $15.90 on Thursday. Mirati Therapeutics has a 12-month low of $2.70 and a 12-month high of $19.25.
In related news, major shareholder Venbio Select Advisor Llc purchased 650,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were acquired at an average price of $13.00 per share, with a total value of $8,450,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jamie Christensen sold 7,499 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $14.00, for a total value of $104,986.00. Following the completion of the sale, the senior vice president now directly owns 10,169 shares in the company, valued at approximately $142,366. The disclosure for this sale can be found here. In the last three months, insiders sold 23,544 shares of company stock worth $365,826. Company insiders own 5.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in MRTX. KCG Holdings Inc. bought a new stake in Mirati Therapeutics during the 1st quarter valued at $106,000. Susquehanna International Group LLP raised its stake in Mirati Therapeutics by 46.5% during the 2nd quarter. Susquehanna International Group LLP now owns 50,509 shares of the biotechnology company’s stock valued at $184,000 after acquiring an additional 16,030 shares in the last quarter. PDT Partners LLC bought a new stake in Mirati Therapeutics during the 2nd quarter valued at $200,000. LMR Partners LLP bought a new stake in Mirati Therapeutics during the 2nd quarter valued at $236,000. Finally, Citadel Advisors LLC bought a new stake in Mirati Therapeutics during the 3rd quarter valued at $268,000. 64.73% of the stock is currently owned by institutional investors and hedge funds.
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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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