Mirati Therapeutics’ (MRTX) “Buy” Rating Reaffirmed at Oppenheimer Holdings, Inc.

Oppenheimer Holdings, Inc. restated their buy rating on shares of Mirati Therapeutics, Inc. (NASDAQ:MRTX) in a research report sent to investors on Wednesday morning. The firm currently has a $18.00 price objective on the biotechnology company’s stock.

Other equities research analysts also recently issued research reports about the stock. SunTrust Banks, Inc. reiterated a buy rating and set a $13.00 target price on shares of Mirati Therapeutics in a research note on Thursday, October 12th. HC Wainwright reiterated a buy rating and set a $20.00 target price on shares of Mirati Therapeutics in a research note on Thursday, October 12th. Citigroup Inc. reiterated a buy rating and set a $16.00 target price (up previously from $8.00) on shares of Mirati Therapeutics in a research note on Tuesday, September 19th. Jefferies Group LLC set a $5.00 target price on shares of Mirati Therapeutics and gave the stock a hold rating in a research note on Friday, August 4th. Finally, Zacks Investment Research upgraded shares of Mirati Therapeutics from a sell rating to a hold rating in a research note on Tuesday, November 7th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $13.71.

Shares of Mirati Therapeutics (MRTX) opened at $17.50 on Wednesday. Mirati Therapeutics has a 12 month low of $2.70 and a 12 month high of $19.25.

Mirati Therapeutics (NASDAQ:MRTX) last announced its earnings results on Wednesday, November 1st. The biotechnology company reported ($0.65) earnings per share for the quarter, topping the consensus estimate of ($0.81) by $0.16. equities research analysts anticipate that Mirati Therapeutics will post -2.78 earnings per share for the current year.

In related news, SVP Jamie Christensen sold 4,000 shares of the stock in a transaction dated Wednesday, October 4th. The shares were 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 can be accessed through this link. Also, major shareholder Venbio Select Advisor Llc purchased 650,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were purchased at an average cost of $13.00 per share, with a total value of $8,450,000.00. The disclosure for this purchase can be found here. Insiders have sold 23,544 shares of company stock valued at $365,826 over the last three months. 5.10% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of MRTX. Bank of New York Mellon Corp raised its holdings in Mirati Therapeutics by 22.9% during the first quarter. Bank of New York Mellon Corp now owns 63,004 shares of the biotechnology company’s stock worth $328,000 after purchasing an additional 11,753 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in Mirati Therapeutics in the first quarter valued at about $677,000. Renaissance Technologies LLC purchased a new position in Mirati Therapeutics in the first quarter valued at about $854,000. KCG Holdings Inc. purchased a new position in Mirati Therapeutics in the first quarter valued at about $106,000. Finally, LMR Partners LLP purchased a new position in Mirati Therapeutics in the second quarter valued at about $236,000. 59.80% of the stock is owned by hedge funds and other institutional investors.

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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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