ValuEngine Lowers Mirati Therapeutics (NASDAQ:MRTX) to Hold

ValuEngine lowered shares of Mirati Therapeutics (NASDAQ:MRTX) from a buy rating to a hold rating in a research report sent to investors on Tuesday, ValuEngine reports.

A number of other research analysts also recently issued reports on MRTX. Credit Suisse Group set a $115.00 target price on shares of Mirati Therapeutics and gave the company a buy rating in a research report on Friday, September 27th. Citigroup set a $130.00 price target on shares of Mirati Therapeutics and gave the stock a buy rating in a report on Wednesday, October 9th. B. Riley decreased their price target on shares of Mirati Therapeutics from $92.00 to $83.00 and set a neutral rating for the company in a research note on Wednesday, September 11th. Zacks Investment Research upgraded shares of Mirati Therapeutics from a sell rating to a hold rating in a report on Thursday, November 21st. Finally, Guggenheim upped their price objective on shares of Mirati Therapeutics from $116.00 to $128.00 and gave the company a buy rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $105.67.

MRTX traded down $2.18 during trading on Tuesday, hitting $102.62. The company’s stock had a trading volume of 537,567 shares, compared to its average volume of 673,822. Mirati Therapeutics has a twelve month low of $34.39 and a twelve month high of $111.99. The stock’s fifty day moving average price is $92.92 and its 200-day moving average price is $91.46. The firm has a market capitalization of $4.16 billion, a P/E ratio of -32.17 and a beta of 2.09.

Mirati Therapeutics (NASDAQ:MRTX) last announced its quarterly earnings data on Monday, November 4th. The biotechnology company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($1.25) by ($0.13). The company had revenue of $0.99 million for the quarter, compared to analyst estimates of $0.50 million. Mirati Therapeutics had a negative return on equity of 48.60% and a negative net margin of 2,698.66%. Equities analysts predict that Mirati Therapeutics will post -5.36 earnings per share for the current fiscal year.

In other Mirati Therapeutics news, Director Bruce L. A. Carter sold 3,000 shares of Mirati Therapeutics stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $94.74, for a total transaction of $284,220.00. Following the completion of the transaction, the director now owns 3,000 shares in the company, valued at approximately $284,220. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael G. Grey sold 3,042 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $102.44, for a total value of $311,622.48. Following the sale, the director now directly owns 5,298 shares of the company’s stock, valued at $542,727.12. The disclosure for this sale can be found here. Insiders own 4.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Mirati Therapeutics by 19.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,422 shares of the biotechnology company’s stock worth $146,000 after buying an additional 235 shares in the last quarter. Mackay Shields LLC raised its holdings in shares of Mirati Therapeutics by 1.6% in the third quarter. Mackay Shields LLC now owns 19,200 shares of the biotechnology company’s stock valued at $1,496,000 after purchasing an additional 300 shares during the last quarter. First Mercantile Trust Co. raised its holdings in shares of Mirati Therapeutics by 34.7% in the third quarter. First Mercantile Trust Co. now owns 1,169 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 301 shares during the last quarter. Aperio Group LLC purchased a new stake in shares of Mirati Therapeutics in the second quarter valued at about $50,000. Finally, NumerixS Investment Technologies Inc purchased a new stake in shares of Mirati Therapeutics in the second quarter valued at about $52,000.

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. 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.

Recommended Story: What impact do institutional investors have on markets?

To view ValuEngine’s full report, visit ValuEngine’s official website.

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.