Oppenheimer Holdings, Inc. reaffirmed their buy rating on shares of Mirati Therapeutics, Inc. (NASDAQ:MRTX) in a research report report published on Wednesday morning. They currently have a $18.00 target price on the biotechnology company’s stock.

A number of other research analysts have also commented on MRTX. SunTrust Banks, Inc. reiterated a buy rating and set a $13.00 price target on shares of Mirati Therapeutics in a report on Thursday, October 12th. HC Wainwright reiterated a buy rating and set a $20.00 price target on shares of Mirati Therapeutics in a report on Thursday, October 12th. Citigroup Inc. reiterated a buy rating and set a $16.00 price target (up from $8.00) on shares of Mirati Therapeutics in a report on Tuesday, September 19th. Jefferies Group LLC set a $5.00 price target on Mirati Therapeutics and gave the stock a hold rating in a report on Friday, August 4th. Finally, Zacks Investment Research upgraded Mirati Therapeutics from a sell rating to a hold rating in a report on Tuesday, November 7th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $13.71.

Mirati Therapeutics (NASDAQ:MRTX) traded up $0.55 on Wednesday, reaching $17.60. The company had a trading volume of 389,000 shares, compared to its average volume of 551,724. Mirati Therapeutics has a 12-month low of $2.70 and a 12-month high of $19.25.

Mirati Therapeutics (NASDAQ:MRTX) last posted its earnings results on Wednesday, November 1st. The biotechnology company reported ($0.65) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.81) by $0.16. analysts predict that Mirati Therapeutics will post -2.78 earnings per share for the current year.

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In other news, major shareholder Venbio Select Advisor Llc acquired 650,000 shares of the stock in a transaction dated Thursday, November 16th. The shares were acquired at an average cost of $13.00 per share, for a total transaction of $8,450,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jamie Christensen sold 7,499 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $14.00, for a total value of $104,986.00. Following the sale, the senior vice president now owns 10,169 shares in the company, valued at $142,366. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,544 shares of company stock worth $365,826. 5.10% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sabby Management LLC grew its position in Mirati Therapeutics by 2.1% in the second quarter. Sabby Management LLC now owns 255,100 shares of the biotechnology company’s stock valued at $921,000 after acquiring an additional 5,365 shares during the period. Bank of New York Mellon Corp grew its position in Mirati Therapeutics by 22.9% in the first quarter. Bank of New York Mellon Corp now owns 63,004 shares of the biotechnology company’s stock valued at $328,000 after acquiring an additional 11,753 shares during the period. Susquehanna International Group LLP grew its position in Mirati Therapeutics by 46.5% in the second quarter. Susquehanna International Group LLP now owns 50,509 shares of the biotechnology company’s stock valued at $184,000 after acquiring an additional 16,030 shares during the period. KCG Holdings Inc. bought a new stake in Mirati Therapeutics in the first quarter valued at $106,000. Finally, Citadel Advisors LLC bought a new stake in Mirati Therapeutics in the third quarter valued at $268,000. Institutional investors and hedge funds own 59.80% of the company’s stock.

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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