Shares of Mirati Therapeutics Inc (NASDAQ:MRTX) have been given a consensus rating of “Buy” by the twelve research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $47.75.

Several research firms recently weighed in on MRTX. Cann restated a “buy” rating and issued a $62.00 price objective on shares of Mirati Therapeutics in a report on Thursday, August 2nd. HC Wainwright lifted their price objective on Mirati Therapeutics to $63.00 and gave the company a “buy” rating in a report on Friday, July 20th. Oppenheimer lifted their price objective on Mirati Therapeutics from $35.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, July 9th. Citigroup lifted their price objective on Mirati Therapeutics from $37.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, July 5th. Finally, Cowen restated a “buy” rating on shares of Mirati Therapeutics in a report on Thursday, June 28th.

NASDAQ:MRTX opened at $54.60 on Friday. The firm has a market cap of $1.70 billion, a PE ratio of -19.64 and a beta of 1.95. Mirati Therapeutics has a twelve month low of $4.75 and a twelve month high of $65.35.

Mirati Therapeutics (NASDAQ:MRTX) last released its quarterly earnings data on Wednesday, August 1st. The biotechnology company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.16). equities research analysts predict that Mirati Therapeutics will post -2.88 EPS for the current year.

In other news, major shareholder Venbio Select Advisor Llc bought 400,000 shares of Mirati Therapeutics stock in a transaction on Monday, June 11th. The stock was acquired at an average cost of $38.85 per share, for a total transaction of $15,540,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jamie Christensen sold 10,207 shares of the business’s stock in a transaction dated Wednesday, June 27th. The stock was sold at an average price of $49.15, for a total transaction of $501,674.05. Following the completion of the transaction, the senior vice president now owns 8,085 shares of the company’s stock, valued at $397,377.75. The disclosure for this sale can be found here. Insiders own 4.86% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. FMR LLC raised its holdings in Mirati Therapeutics by 67.5% in the second quarter. FMR LLC now owns 1,986,315 shares of the biotechnology company’s stock worth $97,926,000 after purchasing an additional 800,223 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Mirati Therapeutics by 348.8% in the second quarter. Bank of New York Mellon Corp now owns 110,138 shares of the biotechnology company’s stock worth $5,430,000 after purchasing an additional 85,595 shares in the last quarter. Sio Capital Management LLC bought a new position in Mirati Therapeutics in the second quarter worth about $2,960,000. MetLife Investment Advisors LLC bought a new position in Mirati Therapeutics in the second quarter worth about $424,000. Finally, Metropolitan Life Insurance Co. NY bought a new position in Mirati Therapeutics in the second quarter worth about $299,000. Institutional investors and hedge funds own 97.82% of the company’s stock.

About Mirati Therapeutics

Mirati Therapeutics, Inc, a clinical-stage oncology company, develops targeted therapeutics to address the genetic, epigenetic, and immunological promoters of cancer. The company is involved in developing sitravatinib, an oral spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of solid tumor; and in Phase Ib clinical trial to treat non-small cell lung cancer (NCSLC) patients with CBL, chromosome 4q12, and RET genetic alterations, as well as mocetinostat, an orally administered spectrum-selective Class 1 histone deacetylase inhibitor that is in Phase II clinical trial in combination with durvalumab for the treatment of patients with NSCLC.

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Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

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