HC Wainwright Boosts Mirati Therapeutics (MRTX) Price Target to $21.00

Mirati Therapeutics (NASDAQ:MRTX) had its price target boosted by HC Wainwright from $17.00 to $21.00 in a report issued on Tuesday, Marketbeat.com reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock.

Other research analysts have also issued research reports about the company. SunTrust Banks reiterated a buy rating and issued a $13.00 price target on shares of Mirati Therapeutics in a research report on Thursday, October 12th. Citigroup reiterated a buy rating and issued a $16.00 price target (up previously from $8.00) on shares of Mirati Therapeutics in a research report on Tuesday, September 19th. Oppenheimer reiterated a buy rating and issued a $18.00 price target on shares of Mirati Therapeutics in a research report on Wednesday, November 22nd. Cann reiterated a buy rating and issued a $18.00 price target on shares of Mirati Therapeutics in a research report on Monday, January 8th. Finally, ValuEngine upgraded Mirati Therapeutics from a sell rating to a hold rating in a research report on Thursday, November 16th. One 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’s stock. The stock has a consensus rating of Buy and an average price target of $14.75.

Mirati Therapeutics (NASDAQ MRTX) traded up $1.55 on Tuesday, reaching $24.75. The company had a trading volume of 954,972 shares, compared to its average volume of 391,477. The stock has a market capitalization of $626.25, a price-to-earnings ratio of -7.96 and a beta of 1.61. Mirati Therapeutics has a 12 month low of $2.70 and a 12 month high of $25.20.

Mirati Therapeutics (NASDAQ:MRTX) last released its quarterly earnings results 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. equities research analysts expect that Mirati Therapeutics will post -2.73 EPS for the current year.

In other Mirati Therapeutics news, SVP Jamie Christensen sold 10,275 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $18.00, for a total transaction of $184,950.00. Following the completion of the transaction, the senior vice president now owns 12,670 shares in the company, valued at $228,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Venbio Select Advisor Llc bought 650,000 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were acquired at an average price 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 32,499 shares of company stock valued at $628,464 in the last 90 days. Company insiders own 5.10% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Broadfin Capital LLC boosted its holdings in shares of Mirati Therapeutics by 19.1% in the second quarter. Broadfin Capital LLC now owns 2,490,801 shares of the biotechnology company’s stock valued at $9,091,000 after purchasing an additional 400,000 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Mirati Therapeutics by 68.7% in the third quarter. Dimensional Fund Advisors LP now owns 336,667 shares of the biotechnology company’s stock valued at $3,939,000 after purchasing an additional 137,104 shares during the period. Sabby Management LLC boosted its holdings in shares of Mirati Therapeutics by 2.1% in the second quarter. Sabby Management LLC now owns 255,100 shares of the biotechnology company’s stock valued at $921,000 after purchasing an additional 5,365 shares during the period. Royce & Associates LP boosted its holdings in shares of Mirati Therapeutics by 88.7% in the second quarter. Royce & Associates LP now owns 251,100 shares of the biotechnology company’s stock valued at $917,000 after purchasing an additional 118,063 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Mirati Therapeutics by 845.4% in the second quarter. Goldman Sachs Group Inc. now owns 98,251 shares of the biotechnology company’s stock valued at $359,000 after purchasing an additional 87,858 shares during the period. Institutional investors and hedge funds own 64.68% of the company’s stock.

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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.

Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

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