Mirati Therapeutics Inc. (NASDAQ:MRTX) was downgraded by research analysts at Avondale Partners from an “outperform” rating to a “market perform” rating in a research note issued to investors on Friday.

MRTX has been the subject of several other research reports. Zacks Investment Research upgraded shares of Mirati Therapeutics from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a research report on Wednesday, November 9th. HC Wainwright initiated coverage on shares of Mirati Therapeutics in a research report on Thursday, November 17th. They set a “buy” rating and a $12.00 price objective for the company. Piper Jaffray Cos. restated a “neutral” rating and set a $7.00 price objective (down previously from $14.00) on shares of Mirati Therapeutics in a research report on Monday, August 8th. Wedbush restated an “outperform” rating and set a $12.00 price objective on shares of Mirati Therapeutics in a research report on Friday, November 4th. Finally, Leerink Swann restated a “hold” rating and set a $7.00 price objective on shares of Mirati Therapeutics in a research report on Friday, November 11th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $16.25.

Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

Shares of Mirati Therapeutics (NASDAQ:MRTX) opened at 5.90 on Friday. Mirati Therapeutics has a 1-year low of $4.40 and a 1-year high of $39.16. The firm’s market cap is $117.55 million. The stock has a 50 day moving average of $5.47 and a 200-day moving average of $7.25.

A number of institutional investors have recently made changes to their positions in the stock. Baker BROS. Advisors LP purchased a new position in shares of Mirati Therapeutics during the third quarter valued at about $14,999,000. Great Point Partners LLC purchased a new position in shares of Mirati Therapeutics during the third quarter valued at about $1,505,000. Tower Research Capital LLC TRC boosted its position in shares of Mirati Therapeutics by 189.8% in the third quarter. Tower Research Capital LLC TRC now owns 20,214 shares of the company’s stock valued at $134,000 after buying an additional 13,240 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Mirati Therapeutics by 1.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 364,284 shares of the company’s stock valued at $2,408,000 after buying an additional 6,216 shares in the last quarter. Finally, Macquarie Group Ltd. purchased a new position in shares of Mirati Therapeutics during the second quarter valued at about $437,000. 69.03% of the stock is currently owned by institutional investors.

5 Day Chart for NASDAQ:MRTX

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