Stifel Nicolaus Increases Mirati Therapeutics (NASDAQ:MRTX) Price Target to $111.00

Mirati Therapeutics (NASDAQ:MRTXGet Rating) had its price objective raised by equities researchers at Stifel Nicolaus from $105.00 to $111.00 in a report released on Tuesday, The Fly reports. Stifel Nicolaus’ price objective would suggest a potential upside of 157.18% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Guggenheim upgraded Mirati Therapeutics from a “neutral” rating to a “buy” rating and set a $115.00 target price for the company in a research report on Friday, May 20th. StockNews.com upgraded Mirati Therapeutics to a “sell” rating in a report on Thursday, May 12th. JMP Securities upgraded Mirati Therapeutics from a “market perform” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Tuesday. The Goldman Sachs Group cut their price objective on Mirati Therapeutics from $253.00 to $216.00 and set a “buy” rating on the stock in a report on Tuesday, May 24th. Finally, Citigroup cut their price objective on Mirati Therapeutics from $227.00 to $208.00 in a report on Thursday, May 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Mirati Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $153.87.

Shares of NASDAQ:MRTX opened at $43.16 on Tuesday. Mirati Therapeutics has a twelve month low of $32.96 and a twelve month high of $195.99. The firm has a market cap of $2.40 billion, a PE ratio of -3.63 and a beta of 1.64. The business has a fifty day moving average of $65.64 and a 200-day moving average of $97.96.

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

Several large investors have recently bought and sold shares of MRTX. Kistler Tiffany Companies LLC acquired a new position in shares of Mirati Therapeutics during the 4th quarter worth approximately $28,000. Signaturefd LLC increased its holdings in shares of Mirati Therapeutics by 102.4% during the 1st quarter. Signaturefd LLC now owns 338 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 171 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Mirati Therapeutics by 307.7% during the 1st quarter. Parallel Advisors LLC now owns 371 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 280 shares during the last quarter. Advisor Group Holdings Inc. increased its holdings in shares of Mirati Therapeutics by 57.4% during the 3rd quarter. Advisor Group Holdings Inc. now owns 488 shares of the biotechnology company’s stock worth $87,000 after acquiring an additional 178 shares during the last quarter. Finally, US Bancorp DE increased its holdings in shares of Mirati Therapeutics by 79.4% during the 3rd quarter. US Bancorp DE now owns 488 shares of the biotechnology company’s stock worth $86,000 after acquiring an additional 216 shares during the last quarter.

Mirati Therapeutics Company Profile (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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