Mirati Therapeutics (NASDAQ:MRTX) had its price target boosted by The Goldman Sachs Group from $152.00 to $267.00 in a research report sent to investors on Monday morning, The Fly reports. The firm currently has a buy rating on the biotechnology company’s stock.
A number of other analysts also recently weighed in on MRTX. CSFB increased their price target on shares of Mirati Therapeutics from $140.00 to $190.00 and gave the company an outperform rating in a research report on Thursday, October 8th. HC Wainwright increased their price target on shares of Mirati Therapeutics from $222.00 to $238.00 and gave the company a buy rating in a research report on Monday. Bank of America began coverage on shares of Mirati Therapeutics in a research report on Monday, September 28th. They issued a neutral rating and a $172.00 price target on the stock. Citigroup downgraded shares of Mirati Therapeutics from a buy rating to a neutral rating and increased their price target for the company from $127.00 to $183.00 in a research report on Friday, September 18th. Finally, BMO Capital Markets increased their price target on shares of Mirati Therapeutics from $101.00 to $176.00 and gave the company a market perform rating in a research report on Wednesday, October 21st. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $190.71.
Mirati Therapeutics stock opened at $219.97 on Monday. Mirati Therapeutics has a 1 year low of $66.01 and a 1 year high of $222.26. The company has a market cap of $9.80 billion, a PE ratio of -30.89 and a beta of 1.85. The company’s 50-day moving average is $171.93 and its two-hundred day moving average is $127.97.
Mirati Therapeutics (NASDAQ:MRTX) last released its earnings results on Thursday, August 6th. The biotechnology company reported ($1.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.10) by $0.21. Mirati Therapeutics had a negative net margin of 10,983.84% and a negative return on equity of 57.01%. On average, research analysts expect that Mirati Therapeutics will post -8.31 earnings per share for the current fiscal year.
In other news, Director Henry J. Fuchs sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $131.38, for a total transaction of $1,313,800.00. Following the completion of the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $1,576,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.10% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of MRTX. Point72 Asset Management L.P. bought a new position in shares of Mirati Therapeutics during the 2nd quarter worth approximately $21,318,000. Federated Hermes Inc. grew its stake in shares of Mirati Therapeutics by 1,078.4% during the 2nd quarter. Federated Hermes Inc. now owns 177,950 shares of the biotechnology company’s stock worth $20,317,000 after acquiring an additional 162,849 shares in the last quarter. RTW Investments LP grew its stake in shares of Mirati Therapeutics by 10.4% during the 2nd quarter. RTW Investments LP now owns 1,087,726 shares of the biotechnology company’s stock worth $124,186,000 after acquiring an additional 102,560 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Mirati Therapeutics during the 2nd quarter worth approximately $11,574,000. Finally, Man Group plc grew its stake in shares of Mirati Therapeutics by 909.0% during the 2nd quarter. Man Group plc now owns 79,304 shares of the biotechnology company’s stock worth $9,054,000 after acquiring an additional 71,444 shares in the last quarter.
About Mirati Therapeutics
Mirati Therapeutics, Inc, a clinical-stage oncology company, develops product candidates to address the genetic and immunological promoters of cancer in the United States. It is developing MRTX849, a KRAS G12C inhibitor, which is in Phase I/II clinical trial for treating non-small cell lung (NSCL), colorectal, pancreatic, and other cancers; and sitravatinib, a spectrum-selective kinase inhibitor that is in Phase II 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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