Mirati Therapeutics (NASDAQ:MRTX) had its target price lifted by investment analysts at HC Wainwright to $40.00 in a note issued to investors on Monday, The Fly reports. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price would suggest a potential upside of 15.61% from the company’s current price.
A number of other analysts have also weighed in on the stock. Cann reissued a “buy” rating and issued a $18.00 price target on shares of Mirati Therapeutics in a report on Monday, January 8th. Leerink Swann raised shares of Mirati Therapeutics from a “market perform” rating to an “outperform” rating and set a $9.00 target price for the company in a report on Tuesday, November 14th. Cowen initiated coverage on shares of Mirati Therapeutics in a report on Thursday, December 21st. They set an “outperform” rating for the company. BidaskClub raised shares of Mirati Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, January 16th. Finally, Oppenheimer set a $18.00 target price on shares of Mirati Therapeutics and gave the stock a “buy” rating in a report on Monday, January 8th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $23.13.
Shares of Mirati Therapeutics (NASDAQ MRTX) opened at $34.60 on Monday. The firm has a market cap of $1,001.33, a P/E ratio of -12.40 and a beta of 2.06. Mirati Therapeutics has a fifty-two week low of $2.70 and a fifty-two week high of $35.00.
In other Mirati Therapeutics news, CFO Jamie A. Donadio sold 51,875 shares of Mirati Therapeutics stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $27.13, for a total transaction of $1,407,368.75. Following the completion of the sale, the chief financial officer now owns 9,375 shares of the company’s stock, valued at approximately $254,343.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jamie Christensen sold 23,000 shares of Mirati Therapeutics stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $30.00, for a total transaction of $690,000.00. Following the sale, the senior vice president now directly owns 10,877 shares of the company’s stock, valued at approximately $326,310. The disclosure for this sale can be found here. Insiders have sold a total of 112,914 shares of company stock valued at $3,054,250 in the last ninety days. Company insiders own 5.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Mirati Therapeutics in the 4th quarter valued at $207,000. Virtus Fund Advisers LLC acquired a new position in shares of Mirati Therapeutics in the 4th quarter valued at $361,000. Lazard Asset Management LLC acquired a new position in shares of Mirati Therapeutics in the 4th quarter valued at $371,000. Citadel Advisors LLC acquired a new position in shares of Mirati Therapeutics in the 3rd quarter valued at $268,000. Finally, Perceptive Advisors LLC acquired a new position in shares of Mirati Therapeutics in the 4th quarter valued at $531,000. 82.89% of the stock is owned by institutional investors.
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About Mirati Therapeutics
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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