Mirati Therapeutics (NASDAQ:MRTX) Given New $21.00 Price Target at HC Wainwright

Mirati Therapeutics (NASDAQ:MRTX) had its price target raised by HC Wainwright from $17.00 to $21.00 in a research report sent to investors on Tuesday, January 9th, Marketbeat.com reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock.

Several other research analysts have also recently weighed in on MRTX. Leerink Swann lifted their price target on shares of Mirati Therapeutics from $7.00 to $9.00 and gave the stock a market perform rating in a research note on Friday, September 15th. ValuEngine upgraded shares of Mirati Therapeutics from a strong sell rating to a sell rating in a research report on Friday, September 15th. Oppenheimer initiated coverage on shares of Mirati Therapeutics in a research report on Monday, September 18th. They set an outperform rating and a $18.00 price objective on the stock. Cann initiated coverage on shares of Mirati Therapeutics in a research report on Tuesday, September 19th. They set an outperform rating on the stock. Finally, Citigroup restated a buy rating and set a $16.00 price objective (up from $8.00) on shares of Mirati Therapeutics in a research report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. Mirati Therapeutics currently has an average rating of Buy and a consensus price target of $14.75.

Shares of Mirati Therapeutics (NASDAQ MRTX) opened at $24.75 on Tuesday. Mirati Therapeutics has a fifty-two week low of $2.70 and a fifty-two week high of $25.20. The stock has a market cap of $668.09, a P/E ratio of -7.96 and a beta of 1.61.

Mirati Therapeutics (NASDAQ:MRTX) last issued its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($0.65) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.81) by $0.16. analysts forecast that Mirati Therapeutics will post -2.73 earnings per share for the current fiscal year.

In other Mirati Therapeutics news, major shareholder Venbio Select Advisor Llc bought 650,000 shares of Mirati Therapeutics stock in a transaction dated 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jamie Christensen sold 7,499 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $14.00, for a total transaction of $104,986.00. Following the completion of the sale, 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. Over the last quarter, insiders sold 32,499 shares of company stock worth $628,464. 5.10% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of MRTX. Royce & Associates LP increased its holdings in shares of Mirati Therapeutics by 88.7% in the 2nd quarter. Royce & Associates LP now owns 251,100 shares of the biotechnology company’s stock worth $917,000 after buying an additional 118,063 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Mirati Therapeutics by 53.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 199,563 shares of the biotechnology company’s stock worth $728,000 after purchasing an additional 69,377 shares during the period. PDT Partners LLC purchased a new position in shares of Mirati Therapeutics during the 2nd quarter worth about $200,000. Goldman Sachs Group Inc. boosted its stake in shares of Mirati Therapeutics by 845.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 98,251 shares of the biotechnology company’s stock worth $359,000 after purchasing an additional 87,858 shares during the period. Finally, Susquehanna International Group LLP boosted its stake in shares of Mirati Therapeutics by 46.5% during the 2nd quarter. Susquehanna International Group LLP now owns 50,509 shares of the biotechnology company’s stock worth $184,000 after purchasing an additional 16,030 shares during the period. Hedge funds and other institutional investors 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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