Mirati Therapeutics, Inc. (NASDAQ:MRTX) shares traded up 0% on Tuesday after HC Wainwright raised their price target on the stock from $17.00 to $21.00. HC Wainwright currently has a buy rating on the stock. Mirati Therapeutics traded as high as $19.13 and last traded at $19.05. 502,748 shares were traded during trading, an increase of 37% from the average session volume of 365,788 shares. The stock had previously closed at $19.05.
A number of other research firms have also weighed in on MRTX. ValuEngine raised Mirati Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, November 16th. Cann reaffirmed a “buy” rating and set a $18.00 price objective on shares of Mirati Therapeutics in a research report on Monday. Oppenheimer set a $18.00 target price on Mirati Therapeutics and gave the stock a “buy” rating in a report on Monday. Cowen began coverage on Mirati Therapeutics in a report on Thursday, December 21st. They issued an “outperform” rating for the company. Finally, Leerink Swann raised Mirati Therapeutics from a “market perform” rating to an “outperform” rating and set a $9.00 target price for the company in a report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $14.75.
In other Mirati Therapeutics news, major shareholder Venbio Select Advisor Llc bought 650,000 shares of Mirati Therapeutics stock in a transaction on Thursday, November 16th. The stock was acquired at an average price of $13.00 per share, with a total value of $8,450,000.00. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Jamie Christensen sold 10,275 shares of Mirati Therapeutics stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $18.00, for a total value of $184,950.00. Following the completion of the sale, the senior vice president now directly owns 12,670 shares of the company’s stock, valued at approximately $228,060. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by company insiders.
The firm has a market cap of $464.29, a price-to-earnings ratio of -6.13 and a beta of 1.79.
Mirati Therapeutics (NASDAQ:MRTX) last issued its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported ($0.65) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.81) by $0.16. research analysts predict that Mirati Therapeutics, Inc. will post -2.73 EPS for the current fiscal year.
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Mirati Therapeutics Company Profile
Mirati Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of oncology products. The companys 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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