Mirati Therapeutics (NASDAQ:MRTX) Stock Rating Lowered by BidaskClub
A number of other equities analysts also recently commented on MRTX. ValuEngine downgraded Mirati Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Credit Suisse Group set a $115.00 target price on Mirati Therapeutics and gave the company a “buy” rating in a report on Friday, September 27th. Cowen reissued a “buy” rating on shares of Mirati Therapeutics in a report on Tuesday, January 7th. Zacks Investment Research raised Mirati Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Guggenheim increased their target price on Mirati Therapeutics from $116.00 to $128.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $105.67.
MRTX traded down $1.12 during trading hours on Tuesday, hitting $96.92. 5,343 shares of the company’s stock were exchanged, compared to its average volume of 746,252. Mirati Therapeutics has a 12-month low of $55.11 and a 12-month high of $132.59. The firm has a market cap of $3.87 billion, a P/E ratio of -30.55 and a beta of 2.17. The firm has a 50 day moving average of $110.92 and a 200 day moving average of $96.37.
In other news, Director Bruce L. A. Carter sold 3,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $94.74, for a total transaction of $284,220.00. Following the completion of the sale, the director now owns 3,000 shares in the company, valued at $284,220. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Boxer Capital, Llc bought 50,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were acquired at an average price of $97.50 per share, with a total value of $4,875,000.00. The disclosure for this purchase can be found here. Company insiders own 4.86% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of MRTX. Voya Investment Management LLC grew its stake in shares of Mirati Therapeutics by 7.1% in the 3rd quarter. Voya Investment Management LLC now owns 10,622 shares of the biotechnology company’s stock valued at $828,000 after purchasing an additional 703 shares during the last quarter. State Street Corp increased its stake in Mirati Therapeutics by 15.9% in the 3rd quarter. State Street Corp now owns 1,323,270 shares of the biotechnology company’s stock valued at $103,096,000 after buying an additional 181,147 shares during the period. BlackRock Inc. increased its stake in Mirati Therapeutics by 8.6% in the 2nd quarter. BlackRock Inc. now owns 2,536,034 shares of the biotechnology company’s stock valued at $261,211,000 after buying an additional 199,939 shares during the period. Pictet Asset Management Ltd. raised its position in Mirati Therapeutics by 78.6% during the 3rd quarter. Pictet Asset Management Ltd. now owns 267,434 shares of the biotechnology company’s stock worth $20,836,000 after buying an additional 117,726 shares during the last quarter. Finally, Morgan Stanley raised its position in Mirati Therapeutics by 32.7% during the 2nd quarter. Morgan Stanley now owns 17,310 shares of the biotechnology company’s stock worth $1,783,000 after buying an additional 4,266 shares during the last quarter.
Mirati Therapeutics Company Profile
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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