Mirati Therapeutics (NASDAQ:MRTX) Rating Lowered to Sell at BidaskClub

Mirati Therapeutics (NASDAQ:MRTX) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Tuesday, BidAskClub reports.

MRTX has been the topic of a number of other research reports. Guggenheim cut shares of Mirati Therapeutics from a “buy” rating to a “neutral” rating and set a $95.56 target price on the stock. in a research report on Friday, June 7th. Citigroup upgraded shares of Mirati Therapeutics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $76.00 to $132.00 in a research report on Tuesday, June 4th. Cantor Fitzgerald lifted their target price on shares of Mirati Therapeutics from $66.00 to $85.00 and gave the stock a “positive” rating in a research report on Tuesday, June 4th. Deutsche Bank initiated coverage on shares of Mirati Therapeutics in a research report on Thursday, July 18th. They issued a “hold” rating and a $86.00 target price on the stock. Finally, SunTrust Banks lifted their target price on shares of Mirati Therapeutics to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $95.16.

Mirati Therapeutics stock opened at $91.94 on Tuesday. The stock has a market cap of $3.61 billion, a P/E ratio of -28.82 and a beta of 1.99. The firm’s fifty day moving average price is $99.95 and its 200-day moving average price is $82.19. Mirati Therapeutics has a fifty-two week low of $28.50 and a fifty-two week high of $111.99.

Mirati Therapeutics (NASDAQ:MRTX) last issued its earnings results on Monday, August 5th. The biotechnology company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($1.18) by ($0.08). The company had revenue of $0.58 million for the quarter. On average, equities research analysts forecast that Mirati Therapeutics will post -5.04 EPS for the current year.

In other Mirati Therapeutics news, major shareholder Avoro Capital Advisors Llc sold 62,500 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $101.88, for a total value of $6,367,500.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael G. Grey sold 3,042 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $92.27, for a total transaction of $280,685.34. Following the completion of the sale, the director now directly owns 4,840 shares in the company, valued at approximately $446,586.80. The disclosure for this sale can be found here. In the last three months, insiders sold 790,550 shares of company stock worth $77,916,472. Insiders own 4.70% of the company’s stock.

A number of institutional investors have recently made changes to their positions in MRTX. CWM LLC bought a new stake in Mirati Therapeutics in the 1st quarter worth $40,000. Aperio Group LLC bought a new stake in shares of Mirati Therapeutics during the 2nd quarter valued at about $50,000. NumerixS Investment Technologies Inc bought a new stake in shares of Mirati Therapeutics during the 2nd quarter valued at about $52,000. Quantamental Technologies LLC bought a new stake in shares of Mirati Therapeutics during the 2nd quarter valued at about $59,000. Finally, First Mercantile Trust Co. bought a new stake in shares of Mirati Therapeutics during the 2nd quarter valued at about $89,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Mirati Therapeutics Company Profile

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 is involved in developing sitravatinib, a spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of non-small cell lung cancer (NCSLC); and in Phase Ib clinical trial to treat NCSLC patients with Casitas B-lineage Lymphoma genetic alterations, as well as KRAS G12C inhibitor program for NSCLC adenocarcinoma patients, colorectal cancer patients, and other cancers.

Featured Story: How Do You Calculate Return on Equity (ROE)?

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.