Zacks Investment Research cut shares of Mirati Therapeutics (NASDAQ:MRTX) from a hold rating to a sell rating in a report issued on Thursday morning.
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 research analysts have also issued reports about the company. HC Wainwright upped their price target on Mirati Therapeutics to $40.00 and gave the stock a buy rating in a report on Monday, March 12th. SunTrust Banks upped their target price on Mirati Therapeutics to $40.00 and gave the company a buy rating in a research note on Friday, March 9th. Citigroup upped their target price on Mirati Therapeutics from $23.00 to $37.00 and gave the company a buy rating in a research note on Monday, March 5th. BidaskClub upgraded Mirati Therapeutics from a hold rating to a buy rating in a research note on Tuesday, January 16th. Finally, Oppenheimer set a $18.00 target price on Mirati Therapeutics and gave the company a buy rating in a research note on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $25.44.
Mirati Therapeutics (MRTX) opened at $32.50 on Thursday. Mirati Therapeutics has a 1-year low of $2.70 and a 1-year high of $37.62.
Mirati Therapeutics (NASDAQ:MRTX) last issued its quarterly earnings results on Thursday, March 8th. The biotechnology company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.06). equities analysts predict that Mirati Therapeutics will post -2.52 EPS for the current year.
In related news, CFO Jamie A. Donadio sold 12,100 shares of the company’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $35.00, for a total value of $423,500.00. Following the completion of the transaction, the chief financial officer now directly owns 12,100 shares in the company, valued at $423,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jamie Christensen sold 14,725 shares of the company’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $22.99, for a total value of $338,527.75. Following the completion of the transaction, the senior vice president now owns 6,395 shares of the company’s stock, valued at $147,021.05. The disclosure for this sale can be found here. Insiders sold 125,014 shares of company stock valued at $3,477,750 over the last 90 days. 5.10% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. bought a new stake in Mirati Therapeutics in the fourth quarter valued at $207,000. Virtus Fund Advisers LLC bought a new stake in Mirati Therapeutics in the fourth quarter valued at $361,000. Lazard Asset Management LLC bought a new stake in Mirati Therapeutics in the fourth quarter valued at $371,000. Citadel Advisors LLC bought a new stake in Mirati Therapeutics in the third quarter valued at $268,000. Finally, Perceptive Advisors LLC bought a new stake in Mirati Therapeutics in the fourth quarter valued at $531,000. Hedge funds and other institutional investors own 82.89% of the company’s stock.
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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