Mirati Therapeutics (NASDAQ:MRTX) Reaches New 12-Month High at $101.79

Shares of Mirati Therapeutics Inc (NASDAQ:MRTX) hit a new 52-week high during trading on Monday . The company traded as high as $101.79 and last traded at $100.50, with a volume of 1428 shares changing hands. The stock had previously closed at $99.77.

A number of brokerages have commented on MRTX. BidaskClub cut shares of Mirati Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Zacks Investment Research raised shares of Mirati Therapeutics from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Friday, February 22nd. Cowen reaffirmed a “buy” rating on shares of Mirati Therapeutics in a research report on Wednesday, March 13th. JPMorgan Chase & Co. began coverage on shares of Mirati Therapeutics in a research report on Wednesday, April 17th. They set a “neutral” rating and a $72.00 price target on the stock. Finally, Barclays upped their price target on shares of Mirati Therapeutics from $85.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Mirati Therapeutics has an average rating of “Buy” and an average target price of $90.97.

The firm has a market cap of $3.60 billion, a price-to-earnings ratio of -29.99 and a beta of 1.68.



Mirati Therapeutics (NASDAQ:MRTX) last announced its quarterly earnings data on Monday, April 29th. The biotechnology company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($0.97) by ($0.20). The firm had revenue of $1.24 million for the quarter. On average, analysts expect that Mirati Therapeutics Inc will post -5 earnings per share for the current year.

In related news, CFO Jamie A. Donadio sold 7,500 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $75.00, for a total value of $562,500.00. Following the sale, the chief financial officer now owns 7,721 shares in the company, valued at approximately $579,075. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce L. A. Carter sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $75.20, for a total transaction of $225,600.00. Following the completion of the sale, the director now owns 3,000 shares in the company, valued at approximately $225,600. The disclosure for this sale can be found here. Insiders have sold 165,041 shares of company stock worth $12,464,235 in the last quarter. Company insiders own 4.70% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC raised its holdings in shares of Mirati Therapeutics by 109.7% in the 1st quarter. FMR LLC now owns 4,606,270 shares of the biotechnology company’s stock worth $337,640,000 after acquiring an additional 2,409,882 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Mirati Therapeutics by 13.8% in the 1st quarter. BlackRock Inc. now owns 2,336,095 shares of the biotechnology company’s stock worth $171,236,000 after acquiring an additional 283,146 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Mirati Therapeutics by 88.6% in the 1st quarter. Janus Henderson Group PLC now owns 2,034,744 shares of the biotechnology company’s stock worth $149,147,000 after acquiring an additional 956,022 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Mirati Therapeutics by 21.8% in the 4th quarter. Jennison Associates LLC now owns 1,216,464 shares of the biotechnology company’s stock worth $51,602,000 after acquiring an additional 217,960 shares during the last quarter. Finally, Perceptive Advisors LLC raised its holdings in shares of Mirati Therapeutics by 825.0% in the 1st quarter. Perceptive Advisors LLC now owns 1,164,382 shares of the biotechnology company’s stock worth $85,349,000 after acquiring an additional 1,038,507 shares during the last quarter.

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About Mirati Therapeutics (NASDAQ:MRTX)

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.

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