Research analysts at Barclays assumed coverage on shares of Mirati Therapeutics (NASDAQ:MRTX) in a note issued to investors on Monday, Marketbeat reports. The firm set an “overweight” rating and a $44.00 price target on the biotechnology company’s stock. Barclays’ price target indicates a potential upside of 25.89% from the stock’s previous close.
A number of other research firms have also commented on MRTX. SunTrust Banks upped their price target on shares of Mirati Therapeutics to $40.00 and gave the company a “buy” rating in a report on Friday. Cowen initiated coverage on shares of Mirati Therapeutics in a report on Thursday, December 21st. They set an “outperform” rating for the company. BidaskClub upgraded shares of Mirati Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 8th. Cann reiterated a “buy” rating and set a $18.00 price target on shares of Mirati Therapeutics in a report on Monday, January 8th. Finally, Leerink Swann upgraded shares of Mirati Therapeutics from a “market perform” rating to an “outperform” rating and set a $9.00 price target for the company in a report on Tuesday, November 14th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $25.44.
Mirati Therapeutics (NASDAQ:MRTX) traded up $0.35 during trading hours on Monday, reaching $34.95. 1,053,084 shares of the company were exchanged, compared to its average volume of 420,771. Mirati Therapeutics has a 52 week low of $2.70 and a 52 week high of $37.62. The company has a market cap of $1,000.00, a price-to-earnings ratio of -12.57 and a beta of 2.00.
In other Mirati Therapeutics news, CFO Jamie A. Donadio sold 51,875 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $27.13, for a total value of $1,407,368.75. Following the completion of the transaction, the chief financial officer now directly owns 9,375 shares in the company, valued at approximately $254,343.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jamie Christensen sold 14,725 shares of the company’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $22.99, for a total transaction of $338,527.75. Following the completion of the transaction, the senior vice president now owns 6,395 shares of the company’s stock, valued at $147,021.05. The disclosure for this sale can be found here. Insiders sold a total of 112,914 shares of company stock valued at $3,054,250 over the last 90 days. Company insiders own 5.10% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. bought a new position in Mirati Therapeutics in the 4th quarter worth $207,000. Virtus Fund Advisers LLC bought a new position in Mirati Therapeutics in the 4th quarter worth $361,000. Lazard Asset Management LLC bought a new position in Mirati Therapeutics in the 4th quarter worth $371,000. Citadel Advisors LLC bought a new position in Mirati Therapeutics in the 3rd quarter worth $268,000. Finally, Perceptive Advisors LLC bought a new position in Mirati Therapeutics in the 4th quarter worth $531,000. Institutional investors and hedge funds own 82.89% 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 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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