Mirati Therapeutics, Inc. (NASDAQ:MRTX)‘s stock had its “hold” rating reaffirmed by research analysts at Jefferies Group in a report issued on Monday. They presently have a $5.00 price objective on the stock. Jefferies Group’s target price indicates a potential downside of 8.26% from the stock’s previous close.
The analysts wrote, “MRTX reported clinical updates on lead programs, glesatinib and sitravatinib. ID’ing glesatinib’s optimal patient pop (MET amp) as well as better safety w/ lower discontinuation rate on new formulation could start to pay off as more pts enter ph.II, which could help enable them to show whether activity is differentiated. Sitravatinib data remains early.””
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research raised Mirati Therapeutics from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a report on Friday, December 16th. HC Wainwright assumed coverage on Mirati Therapeutics in a report on Thursday, November 17th. They set a “buy” rating and a $12.00 price target on the stock. Leerink Swann reissued a “hold” rating and set a $7.00 target price on shares of Mirati Therapeutics in a report on Friday, November 11th. Avondale Partners cut Mirati Therapeutics from an “outperform” rating to a “market perform” rating in a report on Friday, November 18th. Finally, Wedbush reissued an “outperform” rating and set a $12.00 target price on shares of Mirati Therapeutics in a report on Friday, November 4th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Mirati Therapeutics presently has a consensus rating of “Buy” and an average target price of $15.10.
Mirati Therapeutics (NASDAQ:MRTX) traded up 0.92% during midday trading on Monday, hitting $5.50. The stock had a trading volume of 80,377 shares. The firm has a 50 day moving average price of $5.46 and a 200 day moving average price of $5.42. Mirati Therapeutics has a one year low of $4.40 and a one year high of $29.81. The stock’s market cap is $109.58 million.
In related news, major shareholder Boxer Capital, Llc purchased 286,163 shares of the company’s stock in a transaction on Friday, January 6th. The shares were bought at an average price of $5.60 per share, with a total value of $1,602,512.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.80% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Baker BROS. Advisors LP purchased a new position in Mirati Therapeutics during the third quarter valued at $14,999,000. Aviva Holdings Ltd. boosted its position in Mirati Therapeutics by 28.9% in the second quarter. Aviva Holdings Ltd. now owns 1,992,085 shares of the company’s stock valued at $10,877,000 after buying an additional 446,084 shares during the last quarter. Vanguard Group Inc. boosted its position in Mirati Therapeutics by 12.2% in the second quarter. Vanguard Group Inc. now owns 624,044 shares of the company’s stock valued at $3,407,000 after buying an additional 67,729 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Mirati Therapeutics by 1.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 364,284 shares of the company’s stock valued at $2,408,000 after buying an additional 6,216 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its position in Mirati Therapeutics by 10.1% in the second quarter. BlackRock Fund Advisors now owns 331,008 shares of the company’s stock valued at $1,807,000 after buying an additional 30,400 shares during the last quarter. 61.26% of the stock is currently owned by institutional investors.
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