Zacks Investment Research Lowers Mirati Therapeutics, Inc. (MRTX) to Sell

Zacks Investment Research downgraded shares of Mirati Therapeutics, Inc. (NASDAQ:MRTX) from a hold rating to a sell rating in a report released on Thursday.

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. “

Other analysts also recently issued reports about the stock. Citigroup Inc. restated a buy rating and set a $16.00 target price (up from $8.00) on shares of Mirati Therapeutics in a report on Tuesday, September 19th. SunTrust Banks, Inc. restated a buy rating and set a $13.00 target price on shares of Mirati Therapeutics in a report on Monday, October 2nd. Jefferies Group LLC reaffirmed a hold rating and set a $4.50 price target on shares of Mirati Therapeutics in a research note on Monday, June 12th. Leerink Swann raised 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. Finally, CIBC began coverage on shares of Mirati Therapeutics in a research note on Tuesday, September 19th. They set an outperform rating and a $18.00 price target for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $12.63.

Mirati Therapeutics (NASDAQ MRTX) opened at 14.50 on Thursday. The stock’s market capitalization is $362.05 million. Mirati Therapeutics has a 12 month low of $2.70 and a 12 month high of $15.40. The company’s 50-day moving average is $8.21 and its 200-day moving average is $5.17.

COPYRIGHT VIOLATION WARNING: “Zacks Investment Research Lowers Mirati Therapeutics, Inc. (MRTX) to Sell” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another site, it was copied illegally and republished in violation of international trademark & copyright law. The original version of this article can be accessed at https://ledgergazette.com/2017/10/09/zacks-investment-research-lowers-mirati-therapeutics-inc-mrtx-to-sell.html.

In other news, SVP Jamie Christensen sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $14.00, for a total transaction of $56,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.10% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Sabby Management LLC grew its stake in shares of Mirati Therapeutics by 2.1% during the 2nd quarter. Sabby Management LLC now owns 255,100 shares of the biotechnology company’s stock worth $921,000 after acquiring an additional 5,365 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Mirati Therapeutics by 22.9% during the 1st quarter. Bank of New York Mellon Corp now owns 63,004 shares of the biotechnology company’s stock worth $328,000 after acquiring an additional 11,753 shares in the last quarter. Susquehanna International Group LLP grew 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 acquiring an additional 16,030 shares in the last quarter. Trexquant Investment LP grew its stake in shares of Mirati Therapeutics by 62.2% during the 1st quarter. Trexquant Investment LP now owns 42,879 shares of the biotechnology company’s stock worth $223,000 after acquiring an additional 16,447 shares in the last quarter. Finally, KCG Holdings Inc. bought a new position in shares of Mirati Therapeutics during the 1st quarter worth approximately $106,000. 60.17% of the stock is owned by institutional investors.

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.

Get a free copy of the Zacks research report on Mirati Therapeutics (MRTX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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                 <p>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.   “</p>
<p>Other analysts also recently issued reports about the stock. Citigroup Inc.  restated a buy rating and set a $16.00 target price (up from $8.00) on shares of Mirati Therapeutics in a report on Tuesday, September 19th. SunTrust Banks, Inc.  restated a buy rating and set a $13.00 target price on shares of Mirati Therapeutics in a report on Monday, October 2nd. Jefferies Group LLC  reaffirmed a hold rating and set a $4.50 price target on shares of Mirati Therapeutics in a research note on Monday, June 12th. Leerink Swann raised 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. Finally, CIBC began coverage on shares of Mirati Therapeutics in a research note on Tuesday, September 19th. They set an outperform rating and a $18.00 price target for the company. Two research analysts have rated the stock with a sell rating, three have issued  a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $12.63.</p>
<p>Mirati Therapeutics (<a href=NASDAQ MRTX) opened at 14.50 on Thursday. The stock’s market capitalization is $362.05 million. Mirati Therapeutics has a 12 month low of $2.70 and a 12 month high of $15.40. The company’s 50-day moving average is $8.21 and its 200-day moving average is $5.17.

COPYRIGHT VIOLATION WARNING: “Zacks Investment Research Lowers Mirati Therapeutics, Inc. (MRTX) to Sell” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another site, it was copied illegally and republished in violation of international trademark & copyright law. The original version of this article can be accessed at https://ledgergazette.com/2017/10/09/zacks-investment-research-lowers-mirati-therapeutics-inc-mrtx-to-sell.html.

In other news, SVP Jamie Christensen sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $14.00, for a total transaction of $56,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.10% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Sabby Management LLC grew its stake in shares of Mirati Therapeutics by 2.1% during the 2nd quarter. Sabby Management LLC now owns 255,100 shares of the biotechnology company’s stock worth $921,000 after acquiring an additional 5,365 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Mirati Therapeutics by 22.9% during the 1st quarter. Bank of New York Mellon Corp now owns 63,004 shares of the biotechnology company’s stock worth $328,000 after acquiring an additional 11,753 shares in the last quarter. Susquehanna International Group LLP grew 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 acquiring an additional 16,030 shares in the last quarter. Trexquant Investment LP grew its stake in shares of Mirati Therapeutics by 62.2% during the 1st quarter. Trexquant Investment LP now owns 42,879 shares of the biotechnology company’s stock worth $223,000 after acquiring an additional 16,447 shares in the last quarter. Finally, KCG Holdings Inc. bought a new position in shares of Mirati Therapeutics during the 1st quarter worth approximately $106,000. 60.17% of the stock is owned by institutional investors.

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.

Get a free copy of the Zacks research report on Mirati Therapeutics (MRTX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

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