Equities research analysts at B. Riley assumed coverage on shares of Mirati Therapeutics (NASDAQ:MRTX) in a note issued to investors on Friday, The Fly reports. The brokerage set a “buy” rating and a $60.00 price target on the biotechnology company’s stock. B. Riley’s price objective indicates a potential upside of 55.72% from the stock’s current price.
A number of other equities research analysts have also recently weighed in on the stock. Cann restated a “buy” rating and issued a $62.00 price objective on shares of Mirati Therapeutics in a report on Thursday, August 2nd. BidaskClub cut shares of Mirati Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, September 28th. Cowen restated a “buy” rating on shares of Mirati Therapeutics in a report on Thursday, September 27th. Oppenheimer set a $62.00 price objective on shares of Mirati Therapeutics and gave the stock a “buy” rating in a report on Tuesday, October 30th. Finally, Guggenheim upgraded shares of Mirati Therapeutics from a “neutral” rating to a “buy” rating in a report on Monday, October 29th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $55.50.
MRTX stock traded up $1.16 during trading on Friday, reaching $38.53. The company had a trading volume of 21,680 shares, compared to its average volume of 452,479. Mirati Therapeutics has a 52 week low of $15.35 and a 52 week high of $65.35. The company has a market cap of $1.29 billion, a P/E ratio of -13.86 and a beta of 1.83.
A number of institutional investors and hedge funds have recently made changes to their positions in MRTX. BlackRock Inc. grew its holdings in Mirati Therapeutics by 128.8% in the second quarter. BlackRock Inc. now owns 1,451,214 shares of the biotechnology company’s stock worth $71,544,000 after purchasing an additional 816,980 shares during the period. FMR LLC grew its holdings in shares of Mirati Therapeutics by 67.5% during the second quarter. FMR LLC now owns 1,986,315 shares of the biotechnology company’s stock valued at $97,926,000 after buying an additional 800,223 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Mirati Therapeutics during the second quarter valued at approximately $32,639,000. OppenheimerFunds Inc. purchased a new stake in shares of Mirati Therapeutics during the second quarter valued at approximately $26,072,000. Finally, Credit Suisse AG grew its holdings in shares of Mirati Therapeutics by 1,682.9% during the third quarter. Credit Suisse AG now owns 449,408 shares of the biotechnology company’s stock valued at $21,167,000 after buying an additional 424,202 shares during the last quarter.
About Mirati Therapeutics
Mirati Therapeutics, Inc, a clinical-stage oncology company, develops targeted therapeutics to address the genetic, epigenetic, and immunological promoters of cancer. The company is involved in developing sitravatinib, an oral spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of solid tumor; and in Phase Ib clinical trial to treat non-small cell lung cancer (NCSLC) patients with CBL, chromosome 4q12, and RET genetic alterations, as well as mocetinostat, an orally administered spectrum-selective Class 1 histone deacetylase inhibitor that is in Phase II clinical trial in combination with durvalumab for the treatment of patients with NSCLC.
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