Mirati Therapeutics, Inc. (MRTX) Receives Buy Rating from SunTrust Banks, Inc.

Mirati Therapeutics, Inc. (NASDAQ:MRTX)‘s stock had its “buy” rating reissued by stock analysts at SunTrust Banks, Inc. in a research note issued to investors on Thursday. They presently have a $13.00 target price on the biotechnology company’s stock. SunTrust Banks, Inc.’s target price would suggest a potential downside of 9.72% from the stock’s previous close.

A number of other analysts also recently weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $20.00 target price on shares of Mirati Therapeutics in a research report on Thursday. Citigroup Inc. reiterated a “buy” rating and set a $16.00 target price (up from $8.00) on shares of Mirati Therapeutics in a research report on Tuesday, September 19th. Jefferies Group LLC set a $5.00 target price on Mirati Therapeutics and gave the company a “hold” rating in a research report on Friday, August 4th. Leerink Swann upped their target price on Mirati Therapeutics from $7.00 to $9.00 and gave the company a “market perform” rating in a research report on Friday, September 15th. Finally, Cann began coverage on Mirati Therapeutics in a research report on Tuesday, September 19th. They set an “outperform” rating for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $13.88.

Mirati Therapeutics (MRTX) traded down 1.39% during trading on Thursday, reaching $14.20. The company had a trading volume of 665,120 shares. Mirati Therapeutics has a 52-week low of $2.70 and a 52-week high of $15.50. The company has a 50 day moving average price of $8.95 and a 200 day moving average price of $5.36. The company’s market capitalization is $354.56 million.

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In other news, SVP Jamie Christensen sold 4,000 shares of the business’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $14.00, for a total transaction of $56,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Aviva Holdings Ltd. raised its holdings in shares of Mirati Therapeutics by 44.6% during the 1st quarter. Aviva Holdings Ltd. now owns 2,880,702 shares of the biotechnology company’s stock worth $14,980,000 after buying an additional 888,617 shares in the last quarter. Broadfin Capital LLC raised its holdings in shares of Mirati Therapeutics by 19.1% during the 2nd quarter. Broadfin Capital LLC now owns 2,490,801 shares of the biotechnology company’s stock worth $9,091,000 after buying an additional 400,000 shares in the last quarter. Boxer Capital LLC raised its holdings in shares of Mirati Therapeutics by 37.0% during the 1st quarter. Boxer Capital LLC now owns 1,037,994 shares of the biotechnology company’s stock worth $5,398,000 after buying an additional 280,059 shares in the last quarter. Sabby Management LLC raised its holdings in shares of Mirati Therapeutics by 2.1% during the 2nd quarter. Sabby Management LLC now owns 255,100 shares of the biotechnology company’s stock worth $921,000 after buying an additional 5,365 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in shares of Mirati Therapeutics by 88.7% during the 2nd quarter. Royce & Associates LP now owns 251,100 shares of the biotechnology company’s stock worth $917,000 after buying an additional 118,063 shares in the last quarter. 60.17% of the stock is owned by institutional investors.

Mirati Therapeutics Company Profile

Mirati Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of oncology products. The company’s clinical stage product candidates include glesatinib, an orally-bioavailable, potent, small molecule kinase inhibitor that is in Phase II clinical trials for the treatment of non-small cell lung cancer (NSCLC) patients with genetic alterations of MET; and in Phase Ib clinical trials in patients with genetic alterations of MET and Axl in NSCLC and other solid tumors.

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