Mirati Therapeutics Inc (MRTX) Receives Average Recommendation of “Buy” from Brokerages
Shares of Mirati Therapeutics Inc (NASDAQ:MRTX) have been given a consensus rating of “Buy” by the sixteen ratings firms that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $65.88.
A number of research firms recently weighed in on MRTX. BidaskClub downgraded Mirati Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 28th. B. Riley began coverage on Mirati Therapeutics in a research report on Friday, November 30th. They issued a “buy” rating and a $60.00 target price for the company. Zacks Investment Research upgraded Mirati Therapeutics from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Friday, January 4th. Oppenheimer boosted their target price on Mirati Therapeutics from $57.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 16th. Finally, Piper Jaffray Companies began coverage on Mirati Therapeutics in a research report on Friday, February 15th. They issued an “overweight” rating and a $85.00 target price for the company.
In other Mirati Therapeutics news, major shareholder Venbio Select Advisor Llc sold 23,781 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $72.80, for a total value of $1,731,256.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Boxer Capital, Llc sold 550,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 8th. The shares were sold at an average price of $52.10, for a total value of $28,655,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,999,911 shares of company stock valued at $131,856,770 in the last 90 days. 4.86% of the stock is currently owned by corporate insiders.
Shares of MRTX opened at $78.95 on Wednesday. The stock has a market cap of $2.66 billion, a PE ratio of -24.75 and a beta of 2.12. Mirati Therapeutics has a 12-month low of $24.65 and a 12-month high of $80.00.
Mirati Therapeutics Company Profile
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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