Mirati Therapeutics (NASDAQ:MRTX) Stock Rating Reaffirmed by HC Wainwright

Mirati Therapeutics (NASDAQ:MRTX)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued on Wednesday, June 5th, Marketbeat.com reports. They presently have a $117.00 price target on the biotechnology company’s stock, up from their previous price target of $84.00. HC Wainwright’s price objective points to a potential upside of 13.59% from the stock’s current price.

Several other analysts also recently weighed in on the stock. BidaskClub upgraded shares of Mirati Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Piper Jaffray Companies boosted their price objective on shares of Mirati Therapeutics from $85.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. Oppenheimer set a $81.00 price objective on shares of Mirati Therapeutics and gave the stock a “buy” rating in a research report on Thursday, March 7th. Citigroup upgraded shares of Mirati Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $76.00 to $132.00 in a research report on Tuesday, June 4th. Finally, SunTrust Banks upped their price target on shares of Mirati Therapeutics to $120.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $93.25.

Shares of MRTX traded down $1.71 during trading on Wednesday, reaching $103.00. 1,210,570 shares of the company traded hands, compared to its average volume of 1,043,639. The firm has a market cap of $3.71 billion, a PE ratio of -32.29 and a beta of 1.69. The business’s 50-day moving average is $85.91. Mirati Therapeutics has a twelve month low of $28.50 and a twelve month high of $107.57.

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

In other Mirati Therapeutics news, CFO Jamie A. Donadio sold 7,500 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $75.00, for a total value of $562,500.00. Following the transaction, 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 SEC, which is available through the SEC website. Also, Director Bruce L. A. Carter sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $75.20, for a total transaction of $225,600.00. Following the completion of the transaction, 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 ninety days, insiders have sold 16,260 shares of company stock worth $1,164,228. Corporate insiders own 4.86% of the company’s stock.

Several hedge funds have recently made changes to their positions in MRTX. Morgan Stanley lifted its holdings in shares of Mirati Therapeutics by 20.0% during the 3rd quarter. Morgan Stanley now owns 53,375 shares of the biotechnology company’s stock worth $2,514,000 after acquiring an additional 8,888 shares during the period. Rhumbline Advisers lifted its holdings in shares of Mirati Therapeutics by 55.7% during the 4th quarter. Rhumbline Advisers now owns 26,241 shares of the biotechnology company’s stock worth $1,113,000 after acquiring an additional 9,385 shares during the period. SG Americas Securities LLC purchased a new position in shares of Mirati Therapeutics during the 4th quarter worth about $921,000. State Board of Administration of Florida Retirement System increased its position in Mirati Therapeutics by 43.1% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 9,902 shares of the biotechnology company’s stock worth $420,000 after purchasing an additional 2,982 shares in the last quarter. Finally, TD Asset Management Inc. increased its position in Mirati Therapeutics by 1.9% during the 4th quarter. TD Asset Management Inc. now owns 15,800 shares of the biotechnology company’s stock worth $670,000 after purchasing an additional 300 shares in the last quarter.

Mirati Therapeutics Company Profile

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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Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

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