Mirati Therapeutics, Inc. (NASDAQ:MRTX – Get Rating) shares traded up 8.1% during trading on Thursday after JMP Securities raised their price target on the stock from $72.00 to $90.00. The company traded as high as $78.99 and last traded at $77.57. 18,601 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 1,022,671 shares. The stock had previously closed at $71.78.
A number of other research analysts also recently commented on the stock. Jonestrading reissued a “buy” rating and issued a $100.00 price objective on shares of Mirati Therapeutics in a research report on Saturday, June 4th. The Goldman Sachs Group decreased their price objective on shares of Mirati Therapeutics from $216.00 to $188.00 and set a “buy” rating for the company in a research report on Tuesday, June 7th. Guggenheim raised shares of Mirati Therapeutics from a “neutral” rating to a “buy” rating and set a $115.00 price objective for the company in a research report on Friday, May 20th. SVB Leerink decreased their price objective on shares of Mirati Therapeutics from $164.00 to $111.00 and set an “outperform” rating for the company in a research report on Friday, May 27th. Finally, Oppenheimer reduced their target price on shares of Mirati Therapeutics to $85.00 in a report on Thursday, June 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $137.93.
Insiders Place Their Bets
In other Mirati Therapeutics news, EVP Jamie Christensen sold 624 shares of Mirati Therapeutics stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $63.54, for a total value of $39,648.96. Following the completion of the sale, the executive vice president now owns 86,804 shares in the company, valued at approximately $5,515,526.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.47% of the company’s stock.
Hedge Funds Weigh In On Mirati Therapeutics
Mirati Therapeutics Trading Up 11.1 %
The stock’s 50-day moving average is $61.74 and its 200-day moving average is $76.10. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of -7.30 and a beta of 0.99.
Mirati Therapeutics (NASDAQ:MRTX – Get Rating) last posted its earnings results on Wednesday, May 4th. The biotechnology company reported ($3.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.37) by ($0.03). Mirati Therapeutics had a negative return on equity of 51.83% and a negative net margin of 824.57%. The business had revenue of $0.71 million for the quarter, compared to the consensus estimate of $0.18 million. During the same period in the previous year, the firm earned ($2.67) earnings per share. The company’s revenue was up 6990.0% compared to the same quarter last year. On average, equities research analysts anticipate that Mirati Therapeutics, Inc. will post -14.37 EPS for the current fiscal year.
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 develops MRTX849, a KRAS G12C inhibitor, which is in Phase 1/2 clinical trial for treating non-small cell lung (NSCL), colorectal, pancreatic, and other cancers; and Sitravatinib, an investigational spectrum-selective kinase inhibitor that is in Phase 3 clinical trial for the treatment of NSCL cancer, as well as a KRAS G12D inhibitor program, which is in preclinical development.
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