Mirati Therapeutics (NASDAQ:MRTX) had its price target hoisted by HC Wainwright to $40.00 in a research report sent to investors on Monday, March 12th, The Fly reports. The brokerage currently has a buy rating on the biotechnology company’s stock.
Other equities analysts have also issued reports about the company. BidaskClub raised Mirati Therapeutics from a hold rating to a buy rating in a report on Tuesday, January 16th. Oppenheimer set a $18.00 price objective on Mirati Therapeutics and gave the stock a buy rating in a research report on Monday, January 8th. Cann reiterated a buy rating and issued a $18.00 price objective on shares of Mirati Therapeutics in a research report on Monday, January 8th. SunTrust Banks increased their price objective on Mirati Therapeutics to $40.00 and gave the stock a buy rating in a research report on Friday, March 9th. Finally, Citigroup raised their price target on Mirati Therapeutics from $23.00 to $37.00 and gave the company a buy rating in a research report on Monday, March 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $25.44.
Shares of MRTX stock traded down $1.65 during trading on Monday, hitting $26.05. The company’s stock had a trading volume of 560,686 shares, compared to its average volume of 444,615. Mirati Therapeutics has a 52 week low of $2.70 and a 52 week high of $37.62. The firm has a market cap of $813.22, a PE ratio of -9.37 and a beta of 2.15.
In related news, SVP Jamie Christensen sold 10,814 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $27.00, for a total value of $291,978.00. Following the sale, the senior vice president now directly owns 13,691 shares of the company’s stock, valued at $369,657. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jamie A. Donadio sold 51,875 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $27.13, for a total value of $1,407,368.75. Following the completion of the sale, the chief financial officer now directly owns 9,375 shares in the company, valued at $254,343.75. The disclosure for this sale can be found here. Insiders have sold 125,014 shares of company stock worth $3,477,750 over the last ninety days. Insiders own 5.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of MRTX. Jennison Associates LLC bought a new stake in shares of Mirati Therapeutics in the fourth quarter worth about $8,899,000. BlackRock Inc. boosted its position in Mirati Therapeutics by 57.5% during the 4th quarter. BlackRock Inc. now owns 510,362 shares of the biotechnology company’s stock valued at $9,314,000 after acquiring an additional 186,419 shares in the last quarter. Rock Springs Capital Management LP bought a new stake in Mirati Therapeutics during the 4th quarter valued at approximately $3,285,000. Bogle Investment Management L P DE bought a new stake in Mirati Therapeutics during the 4th quarter valued at approximately $2,512,000. Finally, Dimensional Fund Advisors LP boosted its position in Mirati Therapeutics by 68.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 336,667 shares of the biotechnology company’s stock valued at $3,939,000 after acquiring an additional 137,104 shares in the last quarter. 77.30% of the stock is currently owned by institutional investors.
About Mirati Therapeutics
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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