Mirati Therapeutics Inc (NASDAQ:MRTX) shares were up 0.3% on Wednesday after HC Wainwright raised their price target on the stock from $84.00 to $117.00. HC Wainwright currently has a buy rating on the stock. Mirati Therapeutics traded as high as $99.37 and last traded at $98.31. Approximately 13,442 shares changed hands during trading, a decline of 99% from the average daily volume of 1,019,772 shares. The stock had previously closed at $98.03.

Several other research analysts have also weighed in on MRTX. Piper Jaffray Companies started coverage on shares of Mirati Therapeutics in a report on Friday, February 15th. They set an “overweight” rating and a $85.00 price objective for the company. Svb Leerink reiterated an “outperform” rating on shares of Mirati Therapeutics in a research report on Friday, February 15th. Zacks Investment Research upgraded shares of Mirati Therapeutics from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research report on Friday, February 22nd. Citigroup lifted their price objective on shares of Mirati Therapeutics from $64.00 to $77.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Finally, Cantor Fitzgerald assumed coverage on shares of Mirati Therapeutics in a research report on Monday, March 4th. They issued a “neutral” rating and a $66.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $90.62.

In other Mirati Therapeutics news, CFO Jamie A. Donadio sold 7,500 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $75.00, for a total transaction of $562,500.00. Following the sale, the chief financial officer now directly owns 7,721 shares in the company, valued at approximately $579,075. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce L. A. Carter sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $75.20, for a total transaction of $225,600.00. Following the sale, the director now owns 3,000 shares in the company, valued at $225,600. The disclosure for this sale can be found here. Over the last quarter, insiders sold 165,041 shares of company stock worth $12,464,235. 4.70% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in MRTX. FMR LLC raised its position in shares of Mirati Therapeutics by 109.7% during the 1st quarter. FMR LLC now owns 4,606,270 shares of the biotechnology company’s stock worth $337,640,000 after buying an additional 2,409,882 shares in the last quarter. Perceptive Advisors LLC raised its position in shares of Mirati Therapeutics by 825.0% during the 1st quarter. Perceptive Advisors LLC now owns 1,164,382 shares of the biotechnology company’s stock worth $85,349,000 after buying an additional 1,038,507 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Mirati Therapeutics by 88.6% during the 1st quarter. Janus Henderson Group PLC now owns 2,034,744 shares of the biotechnology company’s stock worth $149,147,000 after buying an additional 956,022 shares in the last quarter. BlackRock Inc. raised its position in shares of Mirati Therapeutics by 30.0% during the 4th quarter. BlackRock Inc. now owns 2,052,949 shares of the biotechnology company’s stock worth $87,086,000 after buying an additional 474,097 shares in the last quarter. Finally, TimesSquare Capital Management LLC bought a new stake in shares of Mirati Therapeutics during the 1st quarter worth about $17,687,000.

The stock has a market capitalization of $3.22 billion, a P/E ratio of -30.56 and a beta of 1.69.

Mirati Therapeutics (NASDAQ:MRTX) last announced its quarterly earnings data on Monday, April 29th. The biotechnology company reported ($1.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.97) by ($0.20). The firm had revenue of $1.24 million for the quarter. On average, sell-side analysts forecast that Mirati Therapeutics Inc will post -5 earnings per share for the current fiscal year.

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Mirati Therapeutics Company Profile (NASDAQ:MRTX)

Mirati Therapeutics, Inc, a clinical-stage oncology company, develops product candidates to address the genetic and immunological promoters of cancer in the United States. The company is involved in developing sitravatinib, a spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of non-small cell lung cancer (NCSLC); and in Phase Ib clinical trial to treat NCSLC patients with Casitas B-lineage Lymphoma genetic alterations, as well as KRAS G12C inhibitor program for NSCLC adenocarcinoma patients, colorectal cancer patients, and other cancers.

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