Mirati Therapeutics (NASDAQ:MRTX) Earns Buy Rating from Analysts at Stifel Nicolaus

Stifel Nicolaus assumed coverage on shares of Mirati Therapeutics (NASDAQ:MRTX) in a report issued on Wednesday, PriceTargets.com reports. The firm issued a buy rating and a $202.00 price target on the biotechnology company’s stock.

A number of other research firms have also issued reports on MRTX. Morgan Stanley raised their price target on Mirati Therapeutics from $160.00 to $173.00 and gave the stock an equal weight rating in a report on Tuesday, September 21st. Jefferies Financial Group assumed coverage on Mirati Therapeutics in a report on Monday, September 20th. They set a buy rating and a $193.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on Mirati Therapeutics from $205.00 to $203.00 and set an overweight rating on the stock in a report on Tuesday, September 7th. Zacks Investment Research raised Mirati Therapeutics from a sell rating to a hold rating and set a $172.00 price objective on the stock in a report on Friday, July 9th. Finally, Citigroup lifted their price objective on Mirati Therapeutics from $232.00 to $244.00 and gave the company a buy rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Mirati Therapeutics has a consensus rating of Buy and an average target price of $215.41.

Mirati Therapeutics stock opened at $166.36 on Wednesday. The stock’s fifty day moving average is $159.10 and its two-hundred day moving average is $162.59. Mirati Therapeutics has a 1-year low of $131.46 and a 1-year high of $249.42. The stock has a market cap of $8.59 billion, a PE ratio of -16.74 and a beta of 1.37.

Mirati Therapeutics (NASDAQ:MRTX) last posted its earnings results on Thursday, August 5th. The biotechnology company reported ($3.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.40) by ($0.83). As a group, analysts anticipate that Mirati Therapeutics will post -11.76 earnings per share for the current year.

Institutional investors have recently modified their holdings of the stock. US Bancorp DE raised its position in shares of Mirati Therapeutics by 84.7% during the 1st quarter. US Bancorp DE now owns 157 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 72 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Mirati Therapeutics during the 2nd quarter worth approximately $27,000. E Fund Management Co. Ltd. acquired a new position in shares of Mirati Therapeutics during the 1st quarter worth approximately $125,000. Old Well Partners LLC acquired a new position in shares of Mirati Therapeutics during the 1st quarter worth approximately $211,000. Finally, FORA Capital LLC acquired a new position in shares of Mirati Therapeutics during the 2nd quarter worth approximately $201,000.

About Mirati Therapeutics

Mirati Therapeutics, Inc operates as a clinical-stage oncology company, which engages in the development of novel therapeutics. The firm’s products targets the genetic and immunological promoters of cancer. Its clinical pipeline consists of Adagrasib, MRTX1133, and Sitravatinib. The company was founded on December 13, 1995 and is headquartered in San Diego, CA.

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Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

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