Mirati Therapeutics (NASDAQ:MRTX) had its price target boosted by SunTrust Banks to $40.00 in a report issued on Friday, March 9th, The Fly reports. SunTrust Banks currently has a buy rating on the biotechnology company’s stock.
Several other research analysts have also commented on the company. Leerink Swann upgraded Mirati Therapeutics from a market perform rating to an outperform rating and set a $9.00 price target on the stock in a report on Tuesday, November 14th. HC Wainwright restated a buy rating and issued a $17.00 price objective (down from $20.00) on shares of Mirati Therapeutics in a report on Tuesday, November 14th. ValuEngine upgraded shares of Mirati Therapeutics from a sell rating to a hold rating in a report on Thursday, November 16th. Oppenheimer restated a buy rating and issued a $18.00 price objective on shares of Mirati Therapeutics in a report on Wednesday, November 22nd. Finally, Cowen began coverage on Mirati Therapeutics in a research report on Thursday, December 21st. They issued an outperform rating for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $25.44.
Shares of NASDAQ MRTX traded down $2.10 during midday trading on Friday, reaching $28.60. 382,082 shares of the stock were exchanged, compared to its average volume of 445,246. Mirati Therapeutics has a twelve month low of $2.70 and a twelve month high of $37.62. The stock has a market capitalization of $888.46, a price-to-earnings ratio of -10.52 and a beta of 2.14.
Mirati Therapeutics (NASDAQ:MRTX) last released its quarterly earnings results on Thursday, March 8th. The biotechnology company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.06). equities analysts forecast that Mirati Therapeutics will post -2.53 EPS for the current year.
In related news, CFO Jamie A. Donadio sold 51,875 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The stock was 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 of the company’s stock, valued at $254,343.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jamie A. Donadio sold 12,100 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $35.00, for a total value of $423,500.00. Following the completion of the transaction, the chief financial officer now directly owns 12,100 shares of the company’s stock, valued at $423,500. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,014 shares of company stock valued at $3,477,750. Corporate insiders own 5.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Citadel Advisors LLC lifted its stake in Mirati Therapeutics by 31.5% in the fourth quarter. Citadel Advisors LLC now owns 30,048 shares of the biotechnology company’s stock valued at $548,000 after buying an additional 7,193 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in Mirati Therapeutics in the fourth quarter valued at approximately $207,000. Geode Capital Management LLC lifted its stake in Mirati Therapeutics by 8.7% in the fourth quarter. Geode Capital Management LLC now owns 184,406 shares of the biotechnology company’s stock valued at $3,365,000 after buying an additional 14,721 shares during the last quarter. Virtus Fund Advisers LLC purchased a new stake in Mirati Therapeutics in the fourth quarter valued at approximately $361,000. Finally, Lazard Asset Management LLC purchased a new stake in Mirati Therapeutics in the fourth quarter valued at approximately $371,000. Institutional investors own 77.30% 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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