Mirati Therapeutics (MRTX) Stock Rating Upgraded by BidaskClub

Mirati Therapeutics (NASDAQ:MRTX) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Thursday.

A number of other analysts have also recently issued reports on MRTX. Cann reissued a “buy” rating and set a $18.00 price objective on shares of Mirati Therapeutics in a report on Monday, January 8th. Zacks Investment Research raised Mirati Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Mirati Therapeutics in a report on Thursday, October 12th. SunTrust Banks reissued a “buy” rating and set a $13.00 price objective on shares of Mirati Therapeutics in a report on Thursday, October 12th. Finally, Leerink Swann raised Mirati Therapeutics from a “market perform” rating to an “outperform” rating and set a $9.00 price objective on the stock in a report on Tuesday, November 14th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $14.75.

Shares of Mirati Therapeutics (MRTX) traded up $0.30 during midday trading on Thursday, hitting $27.10. The stock had a trading volume of 343,784 shares, compared to its average volume of 520,309. Mirati Therapeutics has a 1 year low of $2.70 and a 1 year high of $30.50. The stock has a market cap of $731.54, a PE ratio of -8.71 and a beta of 2.17.

In other news, SVP Jamie Christensen sold 10,275 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $18.00, for a total transaction of $184,950.00. Following the transaction, the senior vice president now directly owns 12,670 shares in the company, valued at approximately $228,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Venbio Select Advisor Llc acquired 650,000 shares of Mirati Therapeutics stock in a transaction dated Thursday, November 16th. The shares were purchased at an average price of $13.00 per share, for a total transaction of $8,450,000.00. The disclosure for this purchase can be found here. Insiders have sold a total of 71,314 shares of company stock worth $1,831,831 over the last quarter. Corporate insiders own 5.10% of the company’s stock.

Several institutional investors have recently made changes to their positions in MRTX. Raymond James Financial Services Advisors Inc. purchased a new stake in Mirati Therapeutics during the 4th quarter valued at about $207,000. Virtus Fund Advisers LLC purchased a new stake in Mirati Therapeutics in the 4th quarter worth approximately $361,000. Citadel Advisors LLC purchased a new stake in Mirati Therapeutics in the 3rd quarter worth approximately $268,000. OxFORD Asset Management LLP purchased a new stake in Mirati Therapeutics in the 3rd quarter worth approximately $365,000. Finally, SG Americas Securities LLC purchased a new stake in Mirati Therapeutics in the 4th quarter worth approximately $829,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

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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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