A number of other brokerages have also issued reports on MRTX. Oppenheimer raised their target price on shares of Mirati Therapeutics from $225.00 to $260.00 in a research report on Thursday, November 5th. Piper Sandler raised their target price on shares of Mirati Therapeutics from $210.00 to $260.00 and gave the stock an overweight rating in a research report on Thursday, November 5th. SVB Leerink raised their target price on shares of Mirati Therapeutics from $134.00 to $195.00 and gave the stock an outperform rating in a research report on Monday, October 26th. Bank of America lowered shares of Mirati Therapeutics from a neutral rating to an underperform rating and set a $196.00 target price on the stock. in a research report on Tuesday, November 17th. Finally, Credit Suisse Group raised their target price on shares of Mirati Therapeutics from $225.00 to $285.00 and gave the stock an outperform rating in a research report on Wednesday, December 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $211.73.
Shares of Mirati Therapeutics stock opened at $217.48 on Thursday. The company has a market cap of $10.94 billion, a price-to-earnings ratio of -28.24 and a beta of 1.72. The company’s 50 day moving average is $230.06 and its 200 day moving average is $173.73. Mirati Therapeutics has a twelve month low of $66.01 and a twelve month high of $249.42.
Mirati Therapeutics (NASDAQ:MRTX) last released its quarterly earnings results on Wednesday, November 4th. The biotechnology company reported ($1.96) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.03) by $0.07. Mirati Therapeutics had a negative net margin of 10,983.84% and a negative return on equity of 60.01%. The business had revenue of $11.40 million for the quarter, compared to the consensus estimate of $0.21 million. The firm’s revenue was up 1053.8% compared to the same quarter last year. As a group, equities research analysts predict that Mirati Therapeutics will post -8.21 earnings per share for the current fiscal year.
In other news, CEO Charles M. Baum sold 40,000 shares of Mirati Therapeutics stock in a transaction on Friday, December 18th. The stock was sold at an average price of $234.48, for a total transaction of $9,379,200.00. Following the completion of the transaction, the chief executive officer now owns 142,023 shares of the company’s stock, valued at approximately $33,301,553.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles M. Baum sold 4,511 shares of Mirati Therapeutics stock in a transaction on Wednesday, January 6th. The stock was sold at an average price of $210.39, for a total value of $949,069.29. Following the transaction, the chief executive officer now directly owns 91,933 shares of the company’s stock, valued at approximately $19,341,783.87. The disclosure for this sale can be found here. In the last three months, insiders sold 755,188 shares of company stock valued at $155,620,974. 4.10% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd purchased a new position in Mirati Therapeutics in the 3rd quarter valued at about $51,000. NEXT Financial Group Inc acquired a new stake in Mirati Therapeutics during the 3rd quarter worth approximately $54,000. Private Advisor Group LLC acquired a new stake in Mirati Therapeutics during the 2nd quarter worth approximately $63,000. Prospera Financial Services Inc acquired a new stake in Mirati Therapeutics during the 3rd quarter worth approximately $112,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Mirati Therapeutics during the 2nd quarter worth approximately $96,000. 89.10% of the stock is 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 develops 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.
Read More: Dividend Reinvestment Plan (DRIP)
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