Mirati Therapeutics, Inc. (NASDAQ:MRTX) Given Consensus Rating of “Buy” by Analysts

Mirati Therapeutics, Inc. (NASDAQ:MRTXGet Rating) has been given a consensus rating of “Buy” by the fourteen ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $165.09.

MRTX has been the topic of several research analyst reports. Morgan Stanley dropped their price objective on Mirati Therapeutics from $150.00 to $140.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 1st. Oppenheimer dropped their price objective on Mirati Therapeutics from $175.00 to $155.00 in a report on Friday, February 18th. Stifel Nicolaus dropped their price objective on Mirati Therapeutics from $150.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, March 1st. Guggenheim raised Mirati Therapeutics from a “neutral” rating to a “buy” rating and set a $115.00 price target on the stock in a research note on Friday. Finally, SVB Leerink reaffirmed an “outperform” rating on shares of Mirati Therapeutics in a research note on Tuesday, February 8th.

A number of large investors have recently bought and sold shares of the business. Capital Fund Management S.A. raised its holdings in shares of Mirati Therapeutics by 13.0% in the 3rd quarter. Capital Fund Management S.A. now owns 16,130 shares of the biotechnology company’s stock valued at $2,854,000 after buying an additional 1,852 shares during the period. Franklin Resources Inc. grew its stake in Mirati Therapeutics by 3.1% during the 3rd quarter. Franklin Resources Inc. now owns 1,281,758 shares of the biotechnology company’s stock worth $226,756,000 after purchasing an additional 38,489 shares in the last quarter. Banque Pictet & Cie SA acquired a new position in Mirati Therapeutics during the 4th quarter worth $1,886,000. Northern Trust Corp grew its stake in Mirati Therapeutics by 4.6% during the 4th quarter. Northern Trust Corp now owns 198,430 shares of the biotechnology company’s stock worth $29,107,000 after purchasing an additional 8,729 shares in the last quarter. Finally, Perceptive Advisors LLC grew its stake in Mirati Therapeutics by 6.3% during the 3rd quarter. Perceptive Advisors LLC now owns 3,387,745 shares of the biotechnology company’s stock worth $599,326,000 after purchasing an additional 201,847 shares in the last quarter.

MRTX stock traded up $3.78 during trading on Friday, hitting $63.39. 6,563 shares of the company traded hands, compared to its average volume of 861,398. The stock’s 50-day simple moving average is $73.62 and its 200 day simple moving average is $107.30. The company has a market cap of $3.52 billion, a PE ratio of -5.32 and a beta of 1.61. Mirati Therapeutics has a 1 year low of $51.16 and a 1 year high of $195.99.

Mirati Therapeutics (NASDAQ:MRTXGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The biotechnology company reported ($3.40) EPS for the quarter, missing the consensus estimate of ($3.37) by ($0.03). The business had revenue of $0.71 million during the quarter, compared to the consensus estimate of $0.18 million. During the same quarter in the prior year, the firm posted ($2.67) earnings per share. The company’s revenue for the quarter was up 6990.0% compared to the same quarter last year. Research analysts predict that Mirati Therapeutics will post -14.37 earnings per share for the current year.

About Mirati Therapeutics (Get Rating)

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 develops MRTX849, a KRAS G12C inhibitor, which is in Phase 1/2 clinical trial for treating non-small cell lung (NSCL), colorectal, pancreatic, and other cancers; and Sitravatinib, an investigational spectrum-selective kinase inhibitor that is in Phase 3 clinical trial for the treatment of NSCL cancer, as well as a KRAS G12D inhibitor program, which is in preclinical development.

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