Mirati Therapeutics, Inc. (MRTX) Receives Consensus Recommendation of “Hold” from Brokerages

Mirati Therapeutics, Inc. (NASDAQ:MRTX) has been given a consensus recommendation of “Hold” by the twelve research firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $13.88.

A number of brokerages have issued reports on MRTX. Jefferies Group LLC set a $5.00 target price on shares of Mirati Therapeutics and gave the company a “hold” rating in a report on Friday, August 4th. ValuEngine cut shares of Mirati Therapeutics from a “sell” rating to a “strong sell” rating in a report on Thursday, September 7th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $13.00 target price on shares of Mirati Therapeutics in a report on Monday, October 2nd. CIBC began coverage on shares of Mirati Therapeutics in a report on Tuesday, September 19th. They issued an “outperform” rating and a $18.00 target price for the company. Finally, Cann began coverage on shares of Mirati Therapeutics in a report on Tuesday, September 19th. They issued an “outperform” rating for the company.

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 the SEC website. Company insiders own 5.10% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of MRTX. Broadfin Capital LLC increased its stake in shares of Mirati Therapeutics by 19.1% during the 2nd quarter. Broadfin Capital LLC now owns 2,490,801 shares of the biotechnology company’s stock worth $9,091,000 after purchasing an additional 400,000 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Mirati Therapeutics during the 1st quarter worth approximately $854,000. Royce & Associates LP purchased a new position in shares of Mirati Therapeutics during the 1st quarter worth approximately $692,000. Dimensional Fund Advisors LP purchased a new position in shares of Mirati Therapeutics during the 1st quarter worth approximately $677,000. Finally, Hikari Power Ltd purchased a new position in shares of Mirati Therapeutics during the 2nd quarter worth approximately $365,000. 60.13% of the stock is owned by institutional investors and hedge funds.

Mirati Therapeutics (NASDAQ:MRTX) remained flat at $14.25 during midday trading on Wednesday. The company had a trading volume of 160,319 shares. The stock’s market capitalization is $355.81 million. The firm’s 50 day moving average price is $9.59 and its 200-day moving average price is $5.49. Mirati Therapeutics has a 52-week low of $2.70 and a 52-week high of $15.50.

TRADEMARK VIOLATION WARNING: “Mirati Therapeutics, Inc. (MRTX) Receives Consensus Recommendation of “Hold” from Brokerages” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece of content on another publication, it was stolen and republished in violation of United States & international trademark & copyright legislation. The legal version of this piece of content can be read at https://ledgergazette.com/2017/10/18/mirati-therapeutics-inc-mrtx-receives-consensus-recommendation-of-hold-from-brokerages.html.

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A number of brokerages have issued reports on MRTX. Jefferies Group LLC set a $5.00 target price on shares of Mirati Therapeutics and gave the company a “hold” rating in a report on Friday, August 4th. ValuEngine cut shares of Mirati Therapeutics from a “sell” rating to a “strong sell” rating in a report on Thursday, September 7th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $13.00 target price on shares of Mirati Therapeutics in a report on Monday, October 2nd. CIBC began coverage on shares of Mirati Therapeutics in a report on Tuesday, September 19th. They issued an “outperform” rating and a $18.00 target price for the company. Finally, Cann began coverage on shares of Mirati Therapeutics in a report on Tuesday, September 19th. They issued an “outperform” rating for the company.

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 the SEC website. Company insiders own 5.10% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of MRTX. Broadfin Capital LLC increased its stake in shares of Mirati Therapeutics by 19.1% during the 2nd quarter. Broadfin Capital LLC now owns 2,490,801 shares of the biotechnology company’s stock worth $9,091,000 after purchasing an additional 400,000 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Mirati Therapeutics during the 1st quarter worth approximately $854,000. Royce & Associates LP purchased a new position in shares of Mirati Therapeutics during the 1st quarter worth approximately $692,000. Dimensional Fund Advisors LP purchased a new position in shares of Mirati Therapeutics during the 1st quarter worth approximately $677,000. Finally, Hikari Power Ltd purchased a new position in shares of Mirati Therapeutics during the 2nd quarter worth approximately $365,000. 60.13% of the stock is owned by institutional investors and hedge funds.

Mirati Therapeutics (NASDAQ:MRTX) remained flat at $14.25 during midday trading on Wednesday. The company had a trading volume of 160,319 shares. The stock’s market capitalization is $355.81 million. The firm’s 50 day moving average price is $9.59 and its 200-day moving average price is $5.49. Mirati Therapeutics has a 52-week low of $2.70 and a 52-week high of $15.50.

TRADEMARK VIOLATION WARNING: “Mirati Therapeutics, Inc. (MRTX) Receives Consensus Recommendation of “Hold” from Brokerages” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece of content on another publication, it was stolen and republished in violation of United States & international trademark & copyright legislation. The legal version of this piece of content can be read at https://ledgergazette.com/2017/10/18/mirati-therapeutics-inc-mrtx-receives-consensus-recommendation-of-hold-from-brokerages.html.

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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