Mirati Therapeutics (NASDAQ:MRTX) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Mirati Therapeutics (NASDAQ:MRTX – Get Rating) in a research report sent to investors on Thursday morning. The firm issued a sell rating on the biotechnology company’s stock.

MRTX has been the topic of a number of other research reports. Bank of America dropped their target price on Mirati Therapeutics from $100.00 to $61.00 in a research report on Thursday, December 8th. Piper Sandler lifted their target price on Mirati Therapeutics from $84.00 to $87.00 in a research report on Tuesday, December 13th. BMO Capital Markets dropped 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. B. Riley lifted their target price on Mirati Therapeutics from $52.00 to $56.00 and gave the company a neutral rating in a research report on Monday, January 23rd. Finally, Morgan Stanley dropped their target price on Mirati Therapeutics from $60.00 to $50.00 and set an equal weight rating on the stock in a research report on Friday, January 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Mirati Therapeutics has an average rating of Hold and a consensus target price of $80.87.

Mirati Therapeutics Stock Down 3.4 %

NASDAQ MRTX opened at $41.40 on Thursday. The stock’s 50-day moving average is $46.19 and its 200-day moving average is $59.66. Mirati Therapeutics has a one year low of $32.96 and a one year high of $101.30.

Mirati Therapeutics (NASDAQ:MRTX – Get Rating) last released its quarterly earnings results 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 company had revenue of $0.93 million for the quarter, compared to analyst estimates of $2.65 million. Mirati Therapeutics had a negative return on equity of 66.05% and a negative net margin of 5,957.44%. Mirati Therapeutics’s revenue was up 212.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($3.72) earnings per share. On average, equities research analysts forecast that Mirati Therapeutics will post -13.26 EPS for the current year.

Insider Transactions at Mirati Therapeutics

In other news, EVP Benjamin Hickey sold 3,248 shares of Mirati Therapeutics stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $40.41, for a total transaction of $131,251.68. Following the completion of the transaction, the executive vice president now directly owns 50,877 shares in the company, valued at approximately $2,055,939.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Charles M. Baum sold 9,092 shares of the business’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $40.42, for a total value of $367,498.64. Following the completion of the sale, the insider now directly owns 172,425 shares in the company, valued at approximately $6,969,418.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Benjamin Hickey sold 3,248 shares of the business’s stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $40.41, for a total value of $131,251.68. Following the completion of the sale, the executive vice president now owns 50,877 shares of the company’s stock, valued at $2,055,939.57. The disclosure for this sale can be found here. In the last three months, insiders sold 32,611 shares of company stock worth $1,384,409. 3.47% of the stock is owned by company insiders.

Institutional Trading of Mirati Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. bought a new stake in Mirati Therapeutics in the 3rd quarter valued at $36,000. Wipfli Financial Advisors LLC bought a new stake in Mirati Therapeutics in the 3rd quarter valued at $42,000. Quadrant Capital Group LLC boosted its stake in Mirati Therapeutics by 161.6% in the 2nd 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 during the period. Amundi bought a new stake in Mirati Therapeutics in the 2nd quarter valued at $51,000. Finally, Advisor Group Holdings Inc. boosted its stake in Mirati Therapeutics by 211.1% in the 1st 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 during the period.

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.