Mirati Therapeutics Inc (NASDAQ:MRTX) shares traded down 5.6% on Thursday . The stock traded as low as $88.82 and last traded at $89.03, 792,700 shares were traded during trading. An increase of 17% from the average session volume of 678,216 shares. The stock had previously closed at $94.35.

Several research analysts have weighed in on the stock. Credit Suisse Group set a $115.00 price objective on shares of Mirati Therapeutics and gave the stock a “buy” rating in a report on Friday, September 27th. JPMorgan Chase & Co. downgraded shares of Mirati Therapeutics from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $101.00 to $85.00 in a report on Friday, August 2nd. Cantor Fitzgerald upped their price objective on shares of Mirati Therapeutics from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Jefferies Financial Group upgraded shares of Mirati Therapeutics from a “hold” rating to a “buy” rating and upped their price objective for the stock from $89.00 to $105.00 in a report on Monday, September 9th. Finally, Cowen restated a “buy” rating on shares of Mirati Therapeutics in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $105.67.

The company’s fifty day moving average price is $86.58 and its 200 day moving average price is $89.33. The company has a market cap of $3.78 billion, a PE ratio of -27.91 and a beta of 2.05.

Mirati Therapeutics (NASDAQ:MRTX) last announced its earnings results on Monday, November 4th. The biotechnology company reported ($1.38) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.25) by ($0.13). The firm had revenue of $0.99 million during the quarter, compared to analysts’ expectations of $0.50 million. Mirati Therapeutics had a negative net margin of 2,698.66% and a negative return on equity of 48.60%. On average, equities research analysts anticipate that Mirati Therapeutics Inc will post -5.36 earnings per share for the current fiscal year.

In other news, Director Michael G. Grey sold 3,042 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $102.44, for a total value of $311,622.48. Following the completion of the sale, the director now owns 5,298 shares in the company, valued at $542,727.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.70% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sigma Planning Corp bought a new position in Mirati Therapeutics during the second quarter valued at about $201,000. Candriam Luxembourg S.C.A. grew its position in Mirati Therapeutics by 38.9% during the second quarter. Candriam Luxembourg S.C.A. now owns 157,000 shares of the biotechnology company’s stock valued at $16,100,000 after buying an additional 44,000 shares during the period. BlackRock Inc. grew its position in Mirati Therapeutics by 8.6% during the second quarter. BlackRock Inc. now owns 2,536,034 shares of the biotechnology company’s stock valued at $261,211,000 after buying an additional 199,939 shares during the period. Strs Ohio bought a new position in Mirati Therapeutics during the second quarter valued at about $154,000. Finally, Moody Aldrich Partners LLC grew its position in Mirati Therapeutics by 42.8% during the second quarter. Moody Aldrich Partners LLC now owns 18,760 shares of the biotechnology company’s stock valued at $1,932,000 after buying an additional 5,619 shares during the period.

About Mirati Therapeutics (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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