Shares of Mirati Therapeutics, Inc. (NASDAQ:MRTX – Get Rating) traded up 8.1% during trading on Thursday after JMP Securities raised their price target on the stock from $72.00 to $90.00. The stock traded as high as $78.99 and last traded at $77.57. 18,601 shares were traded during mid-day trading, a decline of 98% from the average session volume of 1,022,671 shares. The stock had previously closed at $71.78.
Other analysts also recently issued research reports about the company. SVB Leerink reduced their price objective on Mirati Therapeutics from $164.00 to $111.00 and set an “outperform” rating on the stock in a research note on Friday, May 27th. The Goldman Sachs Group lowered their price objective on shares of Mirati Therapeutics from $216.00 to $188.00 and set a “buy” rating for the company in a research report on Tuesday, June 7th. Oppenheimer reduced their target price on shares of Mirati Therapeutics to $85.00 in a report on Thursday, June 9th. Stifel Nicolaus increased their price target on shares of Mirati Therapeutics from $105.00 to $111.00 in a report on Tuesday, June 7th. Finally, Citigroup decreased their price objective on Mirati Therapeutics from $208.00 to $127.00 and set a “buy” rating on the stock in a research report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $137.93.
Insider Transactions at Mirati Therapeutics
In related news, EVP Jamie Christensen sold 624 shares of the business’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $63.54, for a total transaction of $39,648.96. Following the completion of the transaction, the executive vice president now owns 86,804 shares in the company, valued at approximately $5,515,526.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.47% of the company’s stock.
Institutional Investors Weigh In On Mirati Therapeutics
Mirati Therapeutics Stock Performance
The company has a market capitalization of $4.33 billion, a PE ratio of -6.55 and a beta of 0.99. The firm has a fifty day simple moving average of $60.81 and a 200 day simple moving average of $76.30.
Mirati Therapeutics (NASDAQ:MRTX – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The biotechnology company reported ($3.40) earnings per share for the quarter, missing the consensus estimate of ($3.37) by ($0.03). The company had revenue of $0.71 million during the quarter, compared to analysts’ expectations of $0.18 million. During the same period in the prior year, the firm earned ($2.67) EPS. Mirati Therapeutics’s quarterly revenue was up 6990.0% compared to the same quarter last year. Research analysts expect that Mirati Therapeutics, Inc. will post -14.37 EPS for the current fiscal year.
About Mirati Therapeutics
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.
- Get a free copy of the StockNews.com research report on Mirati Therapeutics (MRTX)
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