Brokerages Set Mirati Therapeutics, Inc. (NASDAQ:MRTX) Target Price at $172.00

Shares of Mirati Therapeutics, Inc. (NASDAQ:MRTXGet Rating) have earned a consensus rating of “Buy” from the thirteen analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $172.00.

A number of analysts have weighed in on the company. BMO Capital Markets reduced their price target on Mirati Therapeutics from $187.00 to $130.00 in a research report on Tuesday, March 1st. Morgan Stanley dropped their price objective on Mirati Therapeutics from $150.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 1st. SVB Leerink reiterated an “outperform” rating on shares of Mirati Therapeutics in a research note on Tuesday, February 8th. Bank of America upgraded Mirati Therapeutics from an “underperform” rating to a “neutral” rating and dropped their price objective for the stock from $171.00 to $141.00 in a research note on Tuesday, February 1st. Finally, Citigroup dropped their price objective on Mirati Therapeutics from $244.00 to $227.00 and set a “buy” rating on the stock in a research note on Wednesday, March 2nd.

MRTX traded down $2.48 during trading on Monday, reaching $61.79. 956,185 shares of the stock traded hands, compared to its average volume of 569,764. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of -5.53 and a beta of 1.48. Mirati Therapeutics has a fifty-two week low of $60.50 and a fifty-two week high of $195.99. The stock’s 50-day simple moving average is $81.43 and its two-hundred day simple moving average is $119.11.

Mirati Therapeutics (NASDAQ:MRTXGet Rating) last announced its quarterly earnings results on Monday, February 28th. The biotechnology company reported ($3.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.01) by ($0.71). The business had revenue of $0.30 million during the quarter, compared to the consensus estimate of $1.41 million. During the same period in the prior year, the company earned ($2.08) earnings per share. Mirati Therapeutics’s revenue was down 82.5% on a year-over-year basis. On average, equities research analysts expect that Mirati Therapeutics will post -14.53 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Kistler Tiffany Companies LLC bought a new stake in shares of Mirati Therapeutics in the 4th quarter valued at approximately $28,000. Daiwa Securities Group Inc. boosted its holdings in shares of Mirati Therapeutics by 77.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 177 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 77 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Mirati Therapeutics by 307.7% in the 1st quarter. Parallel Advisors LLC now owns 371 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 280 shares in the last quarter. CI Investments Inc. acquired a new position in shares of Mirati Therapeutics in the 3rd quarter worth approximately $35,000. Finally, Fieldpoint Private Securities LLC acquired a new position in shares of Mirati Therapeutics in the 1st quarter worth approximately $57,000.

About Mirati Therapeutics (Get Rating)

Mirati Therapeutics, Inc, a clinical-stage oncology company, develops product candidates to address the genetic and immunological promoters of cancer in the United States. The company develops MRTX849, a KRAS G12C inhibitor, which is in Phase 1/2 clinical trial for treating non-small cell lung (NSCL), colorectal, pancreatic, and other cancers; and Sitravatinib, an investigational spectrum-selective kinase inhibitor that is in Phase 3 clinical trial for the treatment of NSCL cancer, as well as a KRAS G12D inhibitor program, which is in preclinical development.

Read More

Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

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.