Mirati Therapeutics Inc (MRTX) Receives $54.89 Average Target Price from Analysts
Shares of Mirati Therapeutics Inc (NASDAQ:MRTX) have been given a consensus rating of “Buy” by the thirteen ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $54.89.
Several equities research analysts recently commented on MRTX shares. Cowen reiterated a “buy” rating on shares of Mirati Therapeutics in a research report on Monday, October 22nd. Oppenheimer set a $57.00 price objective on shares of Mirati Therapeutics and gave the stock a “buy” rating in a research report on Sunday, November 11th. Zacks Investment Research upgraded shares of Mirati Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. Guggenheim upgraded shares of Mirati Therapeutics from a “neutral” rating to a “buy” rating in a research report on Monday, October 29th. Finally, BidaskClub upgraded shares of Mirati Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 5th.
Shares of NASDAQ MRTX opened at $60.86 on Friday. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -21.89 and a beta of 1.49. Mirati Therapeutics has a one year low of $22.65 and a one year high of $65.35.
In other Mirati Therapeutics news, major shareholder Boxer Capital, Llc sold 550,000 shares of the company’s stock in a transaction dated Tuesday, January 8th. The shares were sold at an average price of $52.10, for a total value of $28,655,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Aaron I. Davis sold 50,000 shares of the company’s stock in a transaction dated Tuesday, January 8th. The shares were sold at an average price of $47.68, for a total transaction of $2,384,000.00. Following the completion of the transaction, the director now owns 70,409 shares in the company, valued at $3,357,101.12. The disclosure for this sale can be found here. 4.86% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc acquired a new position in shares of Mirati Therapeutics during the 2nd quarter valued at about $150,000. Pacer Advisors Inc. acquired a new stake in Mirati Therapeutics during the 3rd quarter worth approximately $176,000. Renaissance Technologies LLC acquired a new stake in Mirati Therapeutics during the 2nd quarter worth approximately $227,000. GAM Holding AG acquired a new stake in Mirati Therapeutics during the 3rd quarter worth approximately $236,000. Finally, United Services Automobile Association acquired a new stake in Mirati Therapeutics during the 2nd quarter worth approximately $250,000.
About Mirati Therapeutics
Mirati Therapeutics, Inc, a clinical-stage oncology company, develops targeted therapeutics to address the genetic, epigenetic, and immunological promoters of cancer. The company is involved in developing sitravatinib, an oral spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of solid tumor; and in Phase Ib clinical trial to treat non-small cell lung cancer (NCSLC) patients with CBL, chromosome 4q12, and RET genetic alterations, as well as mocetinostat, an orally administered spectrum-selective Class 1 histone deacetylase inhibitor that is in Phase II clinical trial in combination with durvalumab for the treatment of patients with NSCLC.
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