Mirati Therapeutics (MRTX) Rating Lowered to Sell at Zacks Investment Research
Mirati Therapeutics (NASDAQ:MRTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.
According to Zacks, “Mirati Therapeutics, Inc. is a biopharmaceutical company. It engaged in the development of novel therapeutics for the treatment of cancer. Mirati Therapeutics, Inc., formerly known as MethylGene Inc., is based in Montreal, Canada. “
Several other equities analysts have also weighed in on the stock. Cann restated a “buy” rating and set a $18.00 price target on shares of Mirati Therapeutics in a research report on Monday, January 8th. Cowen assumed coverage on shares of Mirati Therapeutics in a research report on Thursday, December 21st. They set an “outperform” rating for the company. HC Wainwright increased their target price on shares of Mirati Therapeutics from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. BidaskClub upgraded shares of Mirati Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, January 16th. Finally, Oppenheimer set a $18.00 target price on shares of Mirati Therapeutics and gave the stock a “buy” rating in a research report on Monday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $25.44.
Mirati Therapeutics (NASDAQ:MRTX) last posted its quarterly earnings results on Thursday, March 8th. The biotechnology company reported ($0.67) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by ($0.06). equities analysts forecast that Mirati Therapeutics will post -2.46 earnings per share for the current fiscal year.
In other news, SVP Jamie Christensen sold 14,725 shares of the stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $22.99, for a total value of $338,527.75. Following the sale, the senior vice president now directly owns 6,395 shares of the company’s stock, valued at $147,021.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jamie A. Donadio sold 12,100 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 12,100 shares in the company, valued at $423,500. The disclosure for this sale can be found here. Insiders have sold 125,014 shares of company stock valued at $3,477,750 in the last quarter. Company insiders own 5.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Mirati Therapeutics by 57.5% in the fourth quarter. BlackRock Inc. now owns 510,362 shares of the biotechnology company’s stock worth $9,314,000 after buying an additional 186,419 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of Mirati Therapeutics in the fourth quarter worth about $8,899,000. Dimensional Fund Advisors LP lifted its holdings in shares of Mirati Therapeutics by 68.7% in the third quarter. Dimensional Fund Advisors LP now owns 336,667 shares of the biotechnology company’s stock worth $3,939,000 after buying an additional 137,104 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Mirati Therapeutics by 8.7% in the fourth quarter. Geode Capital Management LLC now owns 184,406 shares of the biotechnology company’s stock worth $3,365,000 after buying an additional 14,721 shares in the last quarter. Finally, Rock Springs Capital Management LP purchased a new stake in shares of Mirati Therapeutics in the fourth quarter worth about $3,285,000. 82.89% of the stock is currently owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY NOTICE: This news story was originally posted by Daily Political and is the property of of Daily Political. If you are viewing this news story on another publication, it was stolen and republished in violation of United States and international copyright laws. The correct version of this news story can be viewed at https://www.dailypolitical.com/2018/03/14/mirati-therapeutics-mrtx-rating-lowered-to-sell-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Mirati Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mirati Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.