Investment analysts at Cann assumed coverage on shares of Mirati Therapeutics, Inc. (NASDAQ:MRTX) in a note issued to investors on Tuesday. The firm set an “outperform” rating on the biotechnology company’s stock.

MRTX has been the subject of several other research reports. ValuEngine raised Mirati Therapeutics from a “strong sell” rating to a “sell” rating in a report on Friday, September 15th. Oppenheimer Holdings, Inc. initiated coverage on Mirati Therapeutics in a report on Monday. They issued an “outperform” rating and a $18.00 price objective for the company. Leerink Swann lifted their price objective on Mirati Therapeutics from $7.00 to $9.00 and gave the stock a “market perform” rating in a report on Friday, September 15th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $4.50 price objective on shares of Mirati Therapeutics in a report on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $11.59.

Mirati Therapeutics (NASDAQ:MRTX) opened at 10.45 on Tuesday. Mirati Therapeutics has a 1-year low of $2.70 and a 1-year high of $12.40. The firm’s market capitalization is $260.93 million. The company has a 50 day moving average of $5.54 and a 200 day moving average of $4.54.

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Hedge funds have recently bought and sold shares of the business. KCG Holdings Inc. purchased a new position in Mirati Therapeutics during the 1st quarter valued at about $106,000. Susquehanna International Group LLP grew its holdings in Mirati Therapeutics by 46.5% during the 2nd quarter. Susquehanna International Group LLP now owns 50,509 shares of the biotechnology company’s stock valued at $184,000 after buying an additional 16,030 shares in the last quarter. PDT Partners LLC purchased a new position in Mirati Therapeutics during the 2nd quarter valued at about $200,000. Trexquant Investment LP grew its holdings in Mirati Therapeutics by 62.2% during the 1st quarter. Trexquant Investment LP now owns 42,879 shares of the biotechnology company’s stock valued at $223,000 after buying an additional 16,447 shares in the last quarter. Finally, LMR Partners LLP purchased a new position in Mirati Therapeutics during the 2nd quarter valued at about $236,000. 60.17% of the stock is owned by institutional investors and hedge funds.

About Mirati Therapeutics

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.

Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

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