Oppenheimer set a $18.00 target price on Mirati Therapeutics (NASDAQ:MRTX) in a research report sent to investors on Monday morning. The brokerage currently has a buy rating on the biotechnology company’s stock. Oppenheimer also issued estimates for Mirati Therapeutics’ FY2022 earnings at ($33.71) EPS.

A number of other analysts also recently issued reports on the stock. ValuEngine raised shares of Mirati Therapeutics from a strong sell rating to a sell rating in a research report on Friday, September 15th. Leerink Swann increased their target price on shares of Mirati Therapeutics from $7.00 to $9.00 and gave the stock a market perform rating in a research report on Friday, September 15th. Zacks Investment Research raised shares of Mirati Therapeutics from a sell rating to a hold rating in a research report on Tuesday, November 7th. CIBC started coverage on shares of Mirati Therapeutics in a research report on Tuesday, September 19th. They set an outperform rating and a $18.00 target price for the company. Finally, HC Wainwright reissued a buy rating and set a $20.00 target price on shares of Mirati Therapeutics in a research report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. Mirati Therapeutics presently has a consensus rating of Buy and an average target price of $14.75.

Mirati Therapeutics (MRTX) traded up $1.30 on Monday, reaching $24.50. 827,530 shares of the company were exchanged, compared to its average volume of 429,962. The firm has a market cap of $626.25, a P/E ratio of -7.88 and a beta of 1.79. Mirati Therapeutics has a 12-month low of $2.70 and a 12-month high of $23.45.

Mirati Therapeutics (NASDAQ:MRTX) last posted its earnings results on Wednesday, November 1st. The biotechnology company reported ($0.65) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.81) by $0.16. equities analysts predict that Mirati Therapeutics will post -2.73 earnings per share for the current fiscal year.

In related news, major shareholder Venbio Select Advisor Llc purchased 650,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was purchased at an average price of $13.00 per share, for a total transaction of $8,450,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jamie Christensen sold 14,725 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $22.99, for a total value of $338,527.75. Following the completion of the transaction, the senior vice president now owns 6,395 shares of the company’s stock, valued at approximately $147,021.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,499 shares of company stock valued at $628,464. 5.10% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Sabby Management LLC boosted its stake in shares of Mirati Therapeutics by 2.1% during the 2nd quarter. Sabby Management LLC now owns 255,100 shares of the biotechnology company’s stock valued at $921,000 after buying an additional 5,365 shares during the last quarter. Susquehanna International Group LLP boosted its stake in shares of 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 during the last quarter. Citadel Advisors LLC purchased a new position in shares of Mirati Therapeutics during the 3rd quarter valued at approximately $268,000. OxFORD Asset Management LLP purchased a new position in shares of Mirati Therapeutics during the 3rd quarter valued at approximately $365,000. Finally, PDT Partners LLC purchased a new position in shares of Mirati Therapeutics during the 2nd quarter valued at approximately $200,000. Institutional investors own 64.68% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Mirati Therapeutics (MRTX) Given a $18.00 Price Target at Oppenheimer” was originally reported by Watch List News and is the sole property of of Watch List News. If you are viewing this article on another website, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The legal version of this article can be accessed at https://www.watchlistnews.com/mirati-therapeutics-mrtx-given-a-18-00-price-target-at-oppenheimer/1804614.html.

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.

Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

Receive News & Ratings for Mirati Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mirati Therapeutics and related companies with Analyst Ratings Network's FREE daily email newsletter.