Mirati Therapeutics (NASDAQ:MRTX) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday, BidAskClub reports.

A number of other equities research analysts also recently weighed in on the company. Cantor Fitzgerald restated a “hold” rating on shares of Mirati Therapeutics in a research report on Thursday, May 16th. Cowen restated a “buy” rating on shares of Mirati Therapeutics in a research report on Wednesday, May 15th. Zacks Investment Research downgraded Mirati Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. JPMorgan Chase & Co. began coverage on Mirati Therapeutics in a research report on Wednesday, April 17th. They issued a “neutral” rating and a $72.00 target price for the company. Finally, Credit Suisse Group initiated coverage on Mirati Therapeutics in a research report on Monday, March 25th. They issued an “outperform” rating and a $85.00 target price for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Mirati Therapeutics presently has an average rating of “Buy” and a consensus price target of $69.08.

MRTX opened at $74.49 on Friday. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of -23.35 and a beta of 1.95. Mirati Therapeutics has a 1-year low of $28.50 and a 1-year high of $80.00.

Mirati Therapeutics (NASDAQ:MRTX) last released its earnings results on Monday, April 29th. The biotechnology company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.97) by ($0.20). The business had revenue of $1.24 million during the quarter. Equities analysts predict that Mirati Therapeutics will post -5 EPS for the current fiscal year.

In other news, Director Michael G. Grey sold 5,760 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $65.30, for a total transaction of $376,128.00. Following the completion of the sale, the director now owns 7,100 shares in the company, valued at approximately $463,630. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jamie A. Donadio sold 7,500 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $75.00, for a total value of $562,500.00. Following the sale, the chief financial officer now owns 7,721 shares of the company’s stock, valued at approximately $579,075. The disclosure for this sale can be found here. Insiders have sold a total of 638,851 shares of company stock valued at $45,484,098 in the last quarter. Insiders own 4.86% of the company’s stock.

Several large investors have recently made changes to their positions in MRTX. CWM LLC acquired a new stake in Mirati Therapeutics during the 1st quarter valued at $40,000. Meeder Asset Management Inc. raised its stake in Mirati Therapeutics by 12.9% during the 4th quarter. Meeder Asset Management Inc. now owns 2,087 shares of the biotechnology company’s stock valued at $89,000 after purchasing an additional 239 shares during the period. Legal & General Group Plc raised its stake in Mirati Therapeutics by 16.5% during the 4th quarter. Legal & General Group Plc now owns 3,635 shares of the biotechnology company’s stock valued at $154,000 after purchasing an additional 515 shares during the period. Great West Life Assurance Co. Can raised its stake in Mirati Therapeutics by 58.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 3,130 shares of the biotechnology company’s stock valued at $229,000 after purchasing an additional 1,149 shares during the period. Finally, Creative Planning acquired a new stake in Mirati Therapeutics during the 1st quarter valued at $231,000.

About Mirati Therapeutics

Mirati Therapeutics, Inc, a clinical-stage oncology company, develops product candidates to address the genetic and immunological promoters of cancer in the United States. The company is involved in developing sitravatinib, a spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of non-small cell lung cancer (NCSLC); and in Phase Ib clinical trial to treat NCSLC patients with Casitas B-lineage Lymphoma genetic alterations, as well as KRAS G12C inhibitor program for NSCLC adenocarcinoma patients, colorectal cancer patients, and other cancers.

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Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

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