ValuEngine downgraded shares of Mirati Therapeutics (NASDAQ:MRTX) from a hold rating to a sell rating in a research note released on Friday.
Other analysts also recently issued reports about the stock. Jefferies Group set a $5.00 target price on shares of Mirati Therapeutics and gave the company a hold rating in a research note on Friday, August 4th. SunTrust Banks reissued a buy rating and set a $13.00 target price on shares of Mirati Therapeutics in a research note on Monday, October 2nd. 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 target price on the stock. Zacks Investment Research raised shares of Mirati Therapeutics from a sell rating to a hold rating in a research note on Tuesday, November 7th. Finally, Cann began coverage on shares of Mirati Therapeutics in a research note on Tuesday, September 19th. They set an outperform rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. Mirati Therapeutics has a consensus rating of Buy and a consensus target price of $13.71.
Mirati Therapeutics (NASDAQ MRTX) traded down $0.65 during midday trading on Friday, hitting $16.10. The company’s stock had a trading volume of 548,300 shares, compared to its average volume of 545,325. Mirati Therapeutics has a 52 week low of $2.70 and a 52 week high of $19.25.
Mirati Therapeutics (NASDAQ:MRTX) last posted its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($0.65) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.81) by $0.16. equities research analysts forecast that Mirati Therapeutics will post -2.77 EPS for the current fiscal year.
In other news, SVP Jamie Christensen sold 4,000 shares of the company’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $14.00, for a total value of $56,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Venbio Select Advisor Llc purchased 650,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was bought at an average cost of $13.00 per share, for a total transaction of $8,450,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 23,544 shares of company stock worth $365,826. Company insiders own 5.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Broadfin Capital LLC increased its stake in shares of Mirati Therapeutics by 19.1% in the second quarter. Broadfin Capital LLC now owns 2,490,801 shares of the biotechnology company’s stock worth $9,091,000 after acquiring an additional 400,000 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Mirati Therapeutics by 68.7% in the third quarter. Dimensional Fund Advisors LP now owns 336,667 shares of the biotechnology company’s stock worth $3,939,000 after acquiring an additional 137,104 shares during the last quarter. Sabby Management LLC increased its stake in shares of Mirati Therapeutics by 2.1% in the second 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 during the last quarter. Royce & Associates LP increased its stake in shares of Mirati Therapeutics by 88.7% in the second quarter. Royce & Associates LP now owns 251,100 shares of the biotechnology company’s stock worth $917,000 after acquiring an additional 118,063 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Mirati Therapeutics in the first quarter worth $854,000. 64.73% of the stock is currently owned by institutional investors and hedge funds.
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About Mirati Therapeutics
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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