Mirati Therapeutics, Inc. (NASDAQ:MRTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

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. “

Several other equities research analysts have also recently issued reports on the company. 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 assumed coverage on Mirati Therapeutics in a report on Tuesday, September 19th. They issued an “outperform” rating and a $18.00 target price on the stock. Citigroup Inc. reaffirmed a “buy” rating and issued a $16.00 target price (up from $8.00) on shares of Mirati Therapeutics in a report on Tuesday, September 19th. Cann assumed coverage on Mirati Therapeutics in a report on Tuesday, September 19th. They issued an “outperform” rating on the stock. Finally, Oppenheimer Holdings, Inc. assumed coverage on Mirati Therapeutics in a report on Monday, September 18th. They issued an “outperform” rating and a $18.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Mirati Therapeutics presently has a consensus rating of “Hold” and an average target price of $12.63.

Mirati Therapeutics (NASDAQ:MRTX) opened at 14.50 on Thursday. The company’s 50-day moving average price is $8.21 and its 200 day moving average price is $5.17. The stock’s market capitalization is $362.05 million. Mirati Therapeutics has a 52-week low of $2.70 and a 52-week high of $15.40.

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In related news, SVP Jamie Christensen sold 4,000 shares of Mirati Therapeutics stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $14.00, for a total value of $56,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MRTX. KCG Holdings Inc. purchased a new position in Mirati Therapeutics in the first quarter worth about $106,000. Susquehanna International Group LLP boosted its position in shares of Mirati Therapeutics by 46.5% during the second quarter. Susquehanna International Group LLP now owns 50,509 shares of the biotechnology company’s stock valued at $184,000 after buying an additional 16,030 shares during the period. PDT Partners LLC purchased a new position in shares of Mirati Therapeutics during the second quarter valued at approximately $200,000. Trexquant Investment LP boosted its position in shares of Mirati Therapeutics by 62.2% during the first quarter. Trexquant Investment LP now owns 42,879 shares of the biotechnology company’s stock valued at $223,000 after buying an additional 16,447 shares during the period. Finally, LMR Partners LLP purchased a new position in shares of Mirati Therapeutics during the second quarter valued at approximately $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 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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