Oppenheimer Holdings, Inc. Begins Coverage on Mirati Therapeutics, Inc. (MRTX)
Stock analysts at Oppenheimer Holdings, Inc. assumed coverage on shares of Mirati Therapeutics, Inc. (NASDAQ:MRTX) in a research note issued to investors on Monday. The firm set an “outperform” rating and a $18.00 price target on the biotechnology company’s stock. Oppenheimer Holdings, Inc.’s price target would suggest a potential upside of 66.67% from the stock’s previous close.
A number of other brokerages also recently issued reports on MRTX. ValuEngine raised shares of Mirati Therapeutics from a “strong sell” rating to a “sell” rating in a report on Friday. Jefferies Group LLC reissued a “hold” rating and set a $4.50 price target on shares of Mirati Therapeutics in a report on Monday, June 12th. Finally, Leerink Swann upped their price objective on shares of Mirati Therapeutics from $7.00 to $9.00 and gave the stock a “market perform” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Mirati Therapeutics has an average rating of “Hold” and an average target price of $9.79.
Shares of Mirati Therapeutics (NASDAQ:MRTX) traded down 3.57% during mid-day trading on Monday, hitting $10.80. 8,676,581 shares of the stock traded hands. The stock’s market cap is $269.67 million. Mirati Therapeutics has a 12 month low of $2.70 and a 12 month high of $12.40. The firm has a 50 day moving average of $5.21 and a 200 day moving average of $4.48.
A number of large investors have recently bought and sold shares of MRTX. KCG Holdings Inc. acquired a new position in Mirati Therapeutics during the first quarter worth $106,000. Susquehanna International Group LLP raised its position in Mirati Therapeutics by 46.5% during the second 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 during the period. PDT Partners LLC acquired a new position in Mirati Therapeutics during the second quarter worth $200,000. Trexquant Investment LP raised its position in Mirati Therapeutics by 62.2% during the first 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 during the period. Finally, LMR Partners LLP acquired a new position in Mirati Therapeutics during the second quarter worth $236,000. Institutional investors own 60.17% 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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