Mirati Therapeutics (NASDAQ:MRTX) PT Raised to $244.00 at Citigroup

Mirati Therapeutics (NASDAQ:MRTX) had its price target boosted by Citigroup from $232.00 to $244.00 in a report released on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

Other equities analysts have also recently issued research reports about the stock. HC Wainwright dropped their price target on shares of Mirati Therapeutics from $251.00 to $247.00 and set a buy rating on the stock in a research report on Monday, August 9th. Oppenheimer raised their price target on shares of Mirati Therapeutics from $160.00 to $175.00 and gave the company a market perform rating in a research report on Tuesday, September 21st. JPMorgan Chase & Co. dropped their price target on shares of Mirati Therapeutics from $205.00 to $203.00 and set an overweight rating on the stock in a research report on Tuesday, September 7th. raised shares of Mirati Therapeutics from a neutral rating to a buy rating in a research report on Friday, June 4th. Finally, Morgan Stanley raised their price target on shares of Mirati Therapeutics from $160.00 to $173.00 and gave the company an equal weight rating in a research report on Tuesday, September 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Buy and a consensus target price of $215.41.

MRTX stock opened at $166.36 on Wednesday. The stock has a market capitalization of $8.59 billion, a PE ratio of -16.74 and a beta of 1.37. The company’s 50-day moving average is $159.10 and its 200-day moving average is $162.59. Mirati Therapeutics has a 1 year low of $131.46 and a 1 year high of $249.42.

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

Several hedge funds have recently modified their holdings of MRTX. Franklin Resources Inc. increased its stake in shares of Mirati Therapeutics by 241.7% during the 1st quarter. Franklin Resources Inc. now owns 992,143 shares of the biotechnology company’s stock worth $169,954,000 after purchasing an additional 701,778 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Mirati Therapeutics by 25.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,921,779 shares of the biotechnology company’s stock worth $310,425,000 after purchasing an additional 389,279 shares during the last quarter. Millennium Management LLC increased its stake in shares of Mirati Therapeutics by 337.8% during the 2nd quarter. Millennium Management LLC now owns 492,237 shares of the biotechnology company’s stock worth $79,511,000 after purchasing an additional 379,794 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Mirati Therapeutics by 146.9% during the 2nd quarter. Deutsche Bank AG now owns 561,032 shares of the biotechnology company’s stock worth $90,623,000 after purchasing an additional 333,765 shares during the last quarter. Finally, Avoro Capital Advisors LLC grew its stake in Mirati Therapeutics by 7.0% in the 2nd quarter. Avoro Capital Advisors LLC now owns 5,000,000 shares of the biotechnology company’s stock valued at $807,650,000 after buying an additional 325,000 shares in the last quarter.

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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