Mirati Therapeutics (MRTX) Rating Increased to Strong-Buy at BidaskClub
BidaskClub upgraded shares of Mirati Therapeutics (NASDAQ:MRTX) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday morning.
Other research analysts also recently issued research reports about the stock. HC Wainwright lifted their target price on shares of Mirati Therapeutics from $17.00 to $21.00 and gave the stock a buy rating in a report on Tuesday, January 9th. Oppenheimer set a $18.00 price objective on shares of Mirati Therapeutics and gave the stock a buy rating in a report on Monday, January 8th. Cann restated a buy rating and set a $18.00 price objective on shares of Mirati Therapeutics in a report on Monday, January 8th. SunTrust Banks restated a buy rating and set a $13.00 price objective on shares of Mirati Therapeutics in a report on Thursday, October 12th. Finally, Zacks Investment Research upgraded shares of Mirati Therapeutics from a sell rating to a hold rating in a report on Tuesday, November 7th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Mirati Therapeutics presently has a consensus rating of Buy and an average target price of $14.75.
Shares of Mirati Therapeutics (NASDAQ MRTX) traded down $0.40 on Thursday, reaching $26.40. 116,140 shares of the company traded hands, compared to its average volume of 497,990. The company has a market cap of $808.46, a P/E ratio of -8.70 and a beta of 2.17. Mirati Therapeutics has a 12-month low of $2.70 and a 12-month high of $30.50.
A number of large investors have recently added to or reduced their stakes in MRTX. Jennison Associates LLC bought a new position in shares of Mirati Therapeutics in the fourth quarter worth about $8,899,000. Broadfin Capital LLC increased its stake in Mirati Therapeutics by 19.1% in the second quarter. Broadfin Capital LLC now owns 2,490,801 shares of the biotechnology company’s stock valued at $9,091,000 after purchasing an additional 400,000 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Mirati Therapeutics by 68.7% in the third quarter. Dimensional Fund Advisors LP now owns 336,667 shares of the biotechnology company’s stock valued at $3,939,000 after purchasing an additional 137,104 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Mirati Therapeutics by 845.4% in the second quarter. Goldman Sachs Group Inc. now owns 98,251 shares of the biotechnology company’s stock valued at $359,000 after purchasing an additional 87,858 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in Mirati Therapeutics in the third quarter valued at approximately $668,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.
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About Mirati Therapeutics
Mirati Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of oncology products. The companys clinical stage product candidates include glesatinib, an orally-bioavailable, potent, small molecule kinase inhibitor that is in Phase II clinical trials for the treatment of non-small cell lung cancer (NSCLC) patients with genetic alterations of MET; and in Phase Ib clinical trials in patients with genetic alterations of MET and Axl in NSCLC and other solid tumors.
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