Oppenheimer set a $18.00 target price on Mirati Therapeutics (NASDAQ:MRTX) in a research report sent to investors on Monday, January 8th. The firm currently has a buy rating on the biotechnology company’s stock. Oppenheimer also issued estimates for Mirati Therapeutics’ FY2022 earnings at ($33.71) EPS.
MRTX has been the subject of a number of other research reports. Zacks Investment Research lowered shares of Mirati Therapeutics from a hold rating to a sell rating in a report on Thursday, October 5th. HC Wainwright reissued a buy rating on shares of Mirati Therapeutics in a report on Tuesday, November 7th. ValuEngine raised shares of Mirati Therapeutics from a strong sell rating to a sell rating in a research note on Friday, September 15th. Leerink Swann raised shares of Mirati Therapeutics from a market perform rating to an outperform rating and set a $9.00 target price for the company in a research note on Tuesday, November 14th. Finally, Cowen began coverage on shares of Mirati Therapeutics in a research note on Thursday, December 21st. They set an outperform rating for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Mirati Therapeutics presently has an average rating of Buy and a consensus price target of $14.75.
Mirati Therapeutics (NASDAQ:MRTX) traded up $1.55 during trading hours on Monday, reaching $24.75. 954,972 shares of the company’s stock were exchanged, compared to its average volume of 488,300. The firm has a market capitalization of $668.09, a PE ratio of -7.96 and a beta of 1.61. Mirati Therapeutics has a 52 week low of $2.70 and a 52 week high of $25.20.
In other news, major shareholder Venbio Select Advisor Llc acquired 650,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were purchased at an average cost of $13.00 per share, for a total transaction of $8,450,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jamie Christensen sold 7,499 shares of Mirati Therapeutics stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $14.00, for a total transaction of $104,986.00. Following the completion of the transaction, the senior vice president now owns 10,169 shares in the company, valued at $142,366. The disclosure for this sale can be found here. Insiders sold 32,499 shares of company stock worth $628,464 over the last quarter. 5.10% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC acquired a new stake in Mirati Therapeutics in the third quarter valued at $268,000. OxFORD Asset Management LLP acquired a new stake in Mirati Therapeutics in the third quarter valued at $365,000. Susquehanna International Group LLP lifted its holdings in Mirati Therapeutics by 46.5% in the second quarter. Susquehanna International Group LLP now owns 50,509 shares of the biotechnology company’s stock valued at $184,000 after acquiring an additional 16,030 shares during the period. PDT Partners LLC acquired a new stake in Mirati Therapeutics in the second quarter valued at $200,000. Finally, Jane Street Group LLC acquired a new stake in Mirati Therapeutics in the third quarter valued at $668,000. 64.68% of the stock is owned by 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 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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