Zacks Investment Research lowered shares of Mirati Therapeutics, Inc. (NASDAQ:MRTX) from a hold rating to a sell rating in a research note issued to investors on Thursday.

According to Zacks, “Mirati Therapeutics, Inc. is a biopharmaceutical company. It engaged in the development of novel therapeutics for the treatment of cancer. Mirati Therapeutics, Inc., formerly known as MethylGene Inc., is based in Montreal, Canada. “

MRTX has been the topic of several other research reports. ValuEngine raised Mirati Therapeutics from a strong sell rating to a sell rating in a research report on Friday, September 15th. Oppenheimer Holdings, Inc. initiated coverage on Mirati Therapeutics in a research report on Monday, September 18th. They set an outperform rating and a $18.00 price target on the stock. Leerink Swann lifted their price target on Mirati Therapeutics from $7.00 to $9.00 and gave the stock a market perform rating in a research report on Friday, September 15th. Citigroup Inc. reaffirmed a buy rating and set a $16.00 price target (up previously from $8.00) on shares of Mirati Therapeutics in a research report on Tuesday, September 19th. Finally, Cann initiated coverage on Mirati Therapeutics in a research report on Tuesday, September 19th. They set an outperform rating on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $12.63.

Shares of Mirati Therapeutics (NASDAQ MRTX) traded down 2.68% during midday trading on Thursday, reaching $14.50. The company had a trading volume of 504,739 shares. The company’s 50 day moving average price is $8.21 and its 200 day moving average price is $5.17. Mirati Therapeutics has a 52-week low of $2.70 and a 52-week high of $15.40. The stock’s market capitalization is $362.05 million.

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In other Mirati Therapeutics news, SVP Jamie Christensen sold 4,000 shares of Mirati Therapeutics stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $14.00, for a total transaction of $56,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 5.10% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Royce & Associates LP grew its stake in shares of Mirati Therapeutics by 88.7% in the 2nd quarter. Royce & Associates LP now owns 251,100 shares of the biotechnology company’s stock valued at $917,000 after purchasing an additional 118,063 shares during the last quarter. Broadfin Capital LLC grew its stake in shares of Mirati Therapeutics by 153.1% in the 1st quarter. Broadfin Capital LLC now owns 2,090,801 shares of the biotechnology company’s stock valued at $10,872,000 after purchasing an additional 1,264,800 shares during the last quarter. Omega Advisors Inc. purchased a new position in shares of Mirati Therapeutics in the 1st quarter valued at approximately $520,000. Bank of New York Mellon Corp grew its stake in shares of Mirati Therapeutics by 22.9% in the 1st quarter. Bank of New York Mellon Corp now owns 63,004 shares of the biotechnology company’s stock valued at $328,000 after purchasing an additional 11,753 shares during the last quarter. Finally, Trexquant Investment LP grew its stake in shares of Mirati Therapeutics by 62.2% in the 1st quarter. Trexquant Investment LP now owns 42,879 shares of the biotechnology company’s stock valued at $223,000 after purchasing an additional 16,447 shares during the last quarter. Institutional investors own 60.17% of the company’s stock.

Mirati Therapeutics Company Profile

Mirati Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of oncology products. The company’s 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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Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

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