Mirati Therapeutics (MRTX) – Investment Analysts’ Weekly Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of Mirati Therapeutics (NASDAQ: MRTX) in the last few weeks:

  • 5/16/2019 – Mirati Therapeutics had its “hold” rating reaffirmed by analysts at Cantor Fitzgerald. They wrote, “. We reiterate our Neutral rating and 12-month price target of $66 on MRTX. This evening, ASCO abstracts for oral and poster presentations were published online that included Amgen’s (N, covered by A. Young) first clinical data from its KRASi AMG510, which is a potential read to Mirati’s MRTX849. Overall, early AMG510 data seem to be still preliminary, and full data at ASCO (6/3) will remain a key investor focus to assess single-agent vs. combo strategy, in our view. We have provided more detailed color on pgs. 2-5. Amgen’s KRASi AMG510 early data in abstract still preliminary. In the dose- escalation stage, AMG510 reported 1 confirmed PR (11% ORR) from 9 evaluable patients (of total 22 pts.).””
  • 5/15/2019 – Mirati Therapeutics had its “buy” rating reaffirmed by analysts at Cowen Inc.
  • 5/9/2019 – Mirati Therapeutics was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 5/8/2019 – Mirati Therapeutics was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Mirati Therapeutics, Inc. is a biopharmaceutical company. It engaged in the development of novel therapeutics for the treatment of cancer. Mirati Therapeutics, Inc., formerly known as MethylGene Inc., is based in Montreal, Canada. “
  • 5/2/2019 – Mirati Therapeutics was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Mirati Therapeutics, Inc. is a biopharmaceutical company. It engaged in the development of novel therapeutics for the treatment of cancer. Mirati Therapeutics, Inc., formerly known as MethylGene Inc., is based in Montreal, Canada. “
  • 5/1/2019 – Mirati Therapeutics had its “hold” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $66.00 price target on the stock.
  • 4/30/2019 – Mirati Therapeutics was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 4/17/2019 – Mirati Therapeutics is now covered by analysts at JPMorgan Chase & Co.. They set a “neutral” rating and a $72.00 price target on the stock.
  • 4/16/2019 – Mirati Therapeutics was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 4/2/2019 – Mirati Therapeutics was given a new $66.00 price target on by analysts at Cantor Fitzgerald. They now have a “hold” rating on the stock.
  • 3/25/2019 – Mirati Therapeutics is now covered by analysts at Credit Suisse Group AG. They set an “outperform” rating and a $85.00 price target on the stock.

Shares of MRTX stock traded up $0.83 during trading on Wednesday, reaching $76.35. The company’s stock had a trading volume of 22,746 shares, compared to its average volume of 680,352. The stock has a market capitalization of $2.55 billion, a P/E ratio of -23.93 and a beta of 1.95. Mirati Therapeutics Inc has a 1-year low of $28.50 and a 1-year high of $80.00.

Mirati Therapeutics (NASDAQ:MRTX) last announced its quarterly earnings data on Monday, April 29th. The biotechnology company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.97) by ($0.20). The company had revenue of $1.24 million for the quarter. Equities analysts forecast that Mirati Therapeutics Inc will post -5 earnings per share for the current fiscal year.

In related news, CEO Charles M. Baum sold 51,810 shares of Mirati Therapeutics stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $75.67, for a total value of $3,920,462.70. Following the completion of the transaction, the chief executive officer now owns 117,851 shares in the company, valued at $8,917,785.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jamie A. Donadio sold 7,500 shares of Mirati Therapeutics stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $75.00, for a total transaction of $562,500.00. Following the completion of the transaction, the chief financial officer now owns 7,721 shares of the company’s stock, valued at approximately $579,075. The disclosure for this sale can be found here. Insiders sold 638,851 shares of company stock valued at $45,484,098 in the last quarter. 4.86% of the stock is owned by insiders.

Several large investors have recently modified their holdings of MRTX. FMR LLC lifted its position in shares of Mirati Therapeutics by 109.7% during the 1st quarter. FMR LLC now owns 4,606,270 shares of the biotechnology company’s stock worth $337,640,000 after buying an additional 2,409,882 shares during the last quarter. Perceptive Advisors LLC increased its holdings in shares of Mirati Therapeutics by 825.0% in the 1st quarter. Perceptive Advisors LLC now owns 1,164,382 shares of the biotechnology company’s stock valued at $85,349,000 after acquiring an additional 1,038,507 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Mirati Therapeutics by 88.6% in the 1st quarter. Janus Henderson Group PLC now owns 2,034,744 shares of the biotechnology company’s stock valued at $149,147,000 after acquiring an additional 956,022 shares during the period. BlackRock Inc. increased its holdings in shares of Mirati Therapeutics by 30.0% in the 4th quarter. BlackRock Inc. now owns 2,052,949 shares of the biotechnology company’s stock valued at $87,086,000 after acquiring an additional 474,097 shares during the period. Finally, TimesSquare Capital Management LLC acquired a new position in shares of Mirati Therapeutics in the 1st quarter valued at $17,687,000.

Mirati Therapeutics, Inc, a clinical-stage oncology company, develops product candidates to address the genetic and immunological promoters of cancer in the United States. The company is involved in developing sitravatinib, a spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of non-small cell lung cancer (NCSLC); and in Phase Ib clinical trial to treat NCSLC patients with Casitas B-lineage Lymphoma genetic alterations, as well as KRAS G12C inhibitor program for NSCLC adenocarcinoma patients, colorectal cancer patients, and other cancers.

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