Mirati Therapeutics (NASDAQ: MRTX) recently received a number of ratings updates from brokerages and research firms:
- 7/9/2018 – Mirati Therapeutics had its price target raised by analysts at Oppenheimer Holdings Inc. from $35.00 to $62.00. They now have an “outperform” rating on the stock.
- 7/9/2018 – Mirati Therapeutics had its price target raised by analysts at Cann from $35.00 to $62.00. They now have an “average” rating on the stock.
- 7/5/2018 – Mirati Therapeutics had its price target raised by analysts at Citigroup Inc from $37.00 to $64.00. They now have a “buy” rating on the stock.
- 6/28/2018 – Mirati Therapeutics had its “buy” rating reaffirmed by analysts at Cowen Inc.
- 6/19/2018 – Mirati Therapeutics had its price target raised by analysts at SunTrust Banks, Inc. to $60.00. They now have a “buy” rating on the stock.
Mirati Therapeutics traded down $0.50, reaching $48.70, during trading on Thursday, according to MarketBeat.com. The company’s stock had a trading volume of 558,342 shares, compared to its average volume of 479,706. Mirati Therapeutics Inc has a 1 year low of $3.70 and a 1 year high of $54.64. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -17.52 and a beta of 2.15.
Mirati Therapeutics (NASDAQ:MRTX) last announced its quarterly earnings results on Monday, May 7th. The biotechnology company reported ($0.51) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.12. The firm had revenue of $9.47 million for the quarter, compared to analyst estimates of $10.00 million. sell-side analysts forecast that Mirati Therapeutics Inc will post -2.86 EPS for the current year.
In other news, major shareholder Boxer Capital, Llc purchased 193,050 shares of the business’s stock in a transaction dated Thursday, June 7th. The stock was acquired at an average price of $38.85 per share, for a total transaction of $7,499,992.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Venbio Select Advisor Llc purchased 400,000 shares of the business’s stock in a transaction dated Monday, June 11th. The shares were purchased at an average price of $38.85 per share, with a total value of $15,540,000.00. The disclosure for this purchase can be found here. 4.86% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in MRTX. Point72 Asset Management L.P. increased its holdings in shares of Mirati Therapeutics by 404.2% during the 1st quarter. Point72 Asset Management L.P. now owns 407,929 shares of the biotechnology company’s stock worth $12,523,000 after buying an additional 327,030 shares during the last quarter. PointState Capital LP acquired a new stake in shares of Mirati Therapeutics during the 1st quarter worth approximately $9,164,000. Farallon Capital Management LLC acquired a new stake in shares of Mirati Therapeutics during the 1st quarter worth approximately $8,289,000. BlackRock Inc. increased its holdings in shares of Mirati Therapeutics by 57.5% during the 4th quarter. BlackRock Inc. now owns 510,362 shares of the biotechnology company’s stock worth $9,314,000 after buying an additional 186,419 shares during the last quarter. Finally, Tibra Equities Europe Ltd acquired a new stake in shares of Mirati Therapeutics during the 1st quarter worth approximately $1,751,000. Institutional investors and hedge funds own 84.77% of the company’s stock.
Mirati Therapeutics, Inc, a clinical-stage oncology company, develops targeted therapeutics to address the genetic, epigenetic, and immunological promoters of cancer. The company is involved in developing sitravatinib, an oral spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of solid tumor; and in Phase Ib clinical trial to treat non-small cell lung cancer (NCSLC) patients with CBL, chromosome 4q12, and RET genetic alterations, as well as mocetinostat, an orally administered spectrum-selective Class 1 histone deacetylase inhibitor that is in Phase II clinical trial in combination with durvalumab for the treatment of patients with NSCLC.
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