Mirati Therapeutics, Inc. (NASDAQ:MRTX) Receives $80.87 Average Price Target from Brokerages

Shares of Mirati Therapeutics, Inc. (NASDAQ:MRTX – Get Rating) have been assigned an average recommendation of “Hold” from the seventeen ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $80.87.

Several analysts have recently weighed in on MRTX shares. Oppenheimer cut their target price on Mirati Therapeutics from $85.00 to $60.00 and set a “market perform” rating on the stock in a research report on Thursday, December 8th. BMO Capital Markets cut their target price on Mirati Therapeutics from $59.00 to $50.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 1st. Citigroup lowered Mirati Therapeutics from a “buy” rating to a “neutral” rating and cut their target price for the stock from $121.00 to $53.00 in a research report on Friday, December 9th. SVB Leerink cut their target price on Mirati Therapeutics from $85.00 to $75.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 14th. Finally, StockNews.com started coverage on Mirati Therapeutics in a research report on Thursday. They set a “sell” rating on the stock.

Mirati Therapeutics Trading Down 3.4 %

Shares of NASDAQ MRTX opened at $41.40 on Thursday. Mirati Therapeutics has a twelve month low of $32.96 and a twelve month high of $101.30. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of -3.14 and a beta of 1.05. The business has a 50 day simple moving average of $46.19 and a 200-day simple moving average of $59.66.

Mirati Therapeutics (NASDAQ:MRTX – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The biotechnology company reported ($3.51) EPS for the quarter, topping analysts’ consensus estimates of ($3.74) by $0.23. The firm had revenue of $0.93 million during the quarter, compared to the consensus estimate of $2.65 million. Mirati Therapeutics had a negative return on equity of 66.05% and a negative net margin of 5,957.44%. The firm’s revenue was up 212.4% on a year-over-year basis. During the same period in the prior year, the business earned ($3.72) EPS. As a group, equities analysts predict that Mirati Therapeutics will post -13.26 earnings per share for the current year.

Insiders Place Their Bets

In other Mirati Therapeutics news, insider Charles M. Baum sold 3,648 shares of Mirati Therapeutics stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $46.60, for a total value of $169,996.80. Following the sale, the insider now owns 168,777 shares of the company’s stock, valued at approximately $7,865,008.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Charles M. Baum sold 3,648 shares of Mirati Therapeutics stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $46.60, for a total value of $169,996.80. Following the sale, the insider now owns 168,777 shares of the company’s stock, valued at $7,865,008.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David D. Meek sold 4,616 shares of the business’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $40.41, for a total value of $186,532.56. Following the transaction, the chief executive officer now directly owns 64,971 shares in the company, valued at approximately $2,625,478.11. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,611 shares of company stock worth $1,384,409. Corporate insiders own 3.47% of the company’s stock.

Institutional Investors Weigh In On Mirati Therapeutics

Institutional investors have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. acquired a new position in Mirati Therapeutics during the third quarter valued at approximately $36,000. Wipfli Financial Advisors LLC acquired a new position in Mirati Therapeutics during the third quarter valued at approximately $42,000. Advisor Group Holdings Inc. raised its position in Mirati Therapeutics by 211.1% during the first quarter. Advisor Group Holdings Inc. now owns 644 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 437 shares in the last quarter. Quadrant Capital Group LLC raised its position in Mirati Therapeutics by 161.6% during the second quarter. Quadrant Capital Group LLC now owns 701 shares of the biotechnology company’s stock valued at $47,000 after purchasing an additional 433 shares in the last quarter. Finally, SOA Wealth Advisors LLC. acquired a new position in shares of Mirati Therapeutics during the third quarter worth $55,000.

Mirati Therapeutics Company Profile

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Mirati Therapeutics, Inc operates as a clinical-stage oncology company. engages in the development of novel therapeutics. The firm’s products target the genetic and immunological promoters of cancer. Its clinical pipeline consists of Adagrasib, MRTX1133, and Sitravatinib. The company was founded on December 13, 1995, and is headquartered in San Diego, CA.