Mirati Therapeutics (MRTX) Price Target Raised to $40.00
Mirati Therapeutics (NASDAQ:MRTX) had its price objective upped by equities researchers at HC Wainwright to $40.00 in a note issued to investors on Monday, The Fly reports. The firm presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 17.99% from the company’s current price.
Other research analysts have also issued research reports about the stock. BidaskClub upgraded shares of Mirati Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. Oppenheimer set a $18.00 price objective on shares of Mirati Therapeutics and gave the company a “buy” rating in a research note on Monday, January 8th. Cann reiterated a “buy” rating and set a $18.00 price objective on shares of Mirati Therapeutics in a research note on Monday, January 8th. SunTrust Banks raised their price objective on shares of Mirati Therapeutics to $40.00 and gave the company a “buy” rating in a research note on Friday, March 9th. Finally, Citigroup raised their price objective on shares of Mirati Therapeutics from $23.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, March 5th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $25.44.
Mirati Therapeutics (NASDAQ:MRTX) opened at $33.90 on Monday. Mirati Therapeutics has a 12 month low of $2.70 and a 12 month high of $37.62. The company has a market cap of $1,010.00, a P/E ratio of -12.19 and a beta of 2.00.
In other Mirati Therapeutics news, SVP Jamie Christensen sold 14,725 shares of Mirati Therapeutics stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $22.99, for a total value of $338,527.75. Following the transaction, the senior vice president now owns 6,395 shares in the company, valued at $147,021.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jamie A. Donadio sold 12,100 shares of Mirati Therapeutics stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $35.00, for a total transaction of $423,500.00. Following the completion of the transaction, the chief financial officer now owns 12,100 shares in the company, valued at approximately $423,500. The disclosure for this sale can be found here. In the last 90 days, insiders sold 125,014 shares of company stock worth $3,477,750. 5.10% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. Perceptive Advisors LLC acquired a new position in Mirati Therapeutics in the fourth quarter worth approximately $531,000. Goldman Sachs Group Inc. acquired a new position in Mirati Therapeutics in the fourth quarter worth approximately $591,000. Rock Springs Capital Management LP acquired a new position in Mirati Therapeutics in the fourth quarter worth approximately $3,285,000. Bogle Investment Management L P DE acquired a new position in Mirati Therapeutics in the fourth quarter worth approximately $2,512,000. Finally, Geode Capital Management LLC boosted its stake in Mirati Therapeutics by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 184,406 shares of the biotechnology company’s stock worth $3,365,000 after purchasing an additional 14,721 shares during the period. Hedge funds and other institutional investors own 82.89% 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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