HC Wainwright Increases Mirati Therapeutics (NASDAQ:MRTX) Price Target to $238.00

Mirati Therapeutics (NASDAQ:MRTX) had its price target raised by HC Wainwright from $222.00 to $238.00 in a research note released on Monday morning, AR Network reports. They currently have a buy rating on the biotechnology company’s stock.

A number of other brokerages also recently weighed in on MRTX. Oppenheimer upped their price target on shares of Mirati Therapeutics from $133.00 to $190.00 and gave the company an outperform rating in a report on Monday, September 21st. Bank of America started coverage on Mirati Therapeutics in a report on Monday, September 28th. They set a neutral rating and a $172.00 price objective on the stock. Citigroup cut shares of Mirati Therapeutics from a buy rating to a neutral rating and raised their target price for the stock from $127.00 to $183.00 in a report on Friday, September 18th. CSFB lifted their target price on shares of Mirati Therapeutics from $140.00 to $190.00 and gave the stock an outperform rating in a research report on Thursday, October 8th. Finally, BidaskClub downgraded shares of Mirati Therapeutics from a strong-buy rating to a buy rating in a research report on Thursday, October 22nd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $190.71.

MRTX stock opened at $219.97 on Monday. The company has a market capitalization of $9.80 billion, a P/E ratio of -30.89 and a beta of 1.85. The company has a 50-day simple moving average of $171.93 and a 200 day simple moving average of $127.97. Mirati Therapeutics has a fifty-two week low of $66.01 and a fifty-two week high of $222.26.

Mirati Therapeutics (NASDAQ:MRTX) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($1.89) earnings per share for the quarter, topping the consensus estimate of ($2.10) by $0.21. Mirati Therapeutics had a negative net margin of 10,983.84% and a negative return on equity of 57.01%. On average, sell-side analysts expect that Mirati Therapeutics will post -8.31 EPS for the current fiscal year.

In other news, Director Henry J. Fuchs sold 10,000 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $131.38, for a total transaction of $1,313,800.00. Following the transaction, the director now owns 12,000 shares in the company, valued at approximately $1,576,560. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.10% of the company’s stock.

Large investors have recently bought and sold shares of the company. NEXT Financial Group Inc bought a new position in shares of Mirati Therapeutics during the 3rd quarter worth about $54,000. Private Advisor Group LLC bought a new position in shares of Mirati Therapeutics during the 2nd quarter worth about $63,000. Point72 Hong Kong Ltd bought a new position in shares of Mirati Therapeutics during the 2nd quarter worth about $96,000. Pacer Advisors Inc. bought a new stake in Mirati Therapeutics in the third quarter valued at about $170,000. Finally, Nisa Investment Advisors LLC increased its stake in Mirati Therapeutics by 300.0% in the third quarter. Nisa Investment Advisors LLC now owns 1,200 shares of the biotechnology company’s stock valued at $199,000 after acquiring an additional 900 shares during the period.

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. It is developing MRTX849, a KRAS G12C inhibitor, which is in Phase I/II clinical trial for treating non-small cell lung (NSCL), colorectal, pancreatic, and other cancers; and sitravatinib, a spectrum-selective kinase inhibitor that is in Phase II 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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Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

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