Stifel Nicolaus Begins Coverage on Mirati Therapeutics (NASDAQ:MRTX)

Stifel Nicolaus assumed coverage on shares of Mirati Therapeutics (NASDAQ:MRTX) in a report published on Wednesday, Price Targets.com reports. The firm issued a buy rating and a $202.00 price target on the biotechnology company’s stock.

MRTX has been the topic of a number of other research reports. Citigroup raised their price target on Mirati Therapeutics from $232.00 to $244.00 and gave the stock a buy rating in a research report on Wednesday. JPMorgan Chase & Co. decreased their target price on Mirati Therapeutics from $205.00 to $203.00 and set an overweight rating on the stock in a research report on Tuesday, September 7th. SVB Leerink lifted their target price on Mirati Therapeutics from $195.00 to $205.00 and gave the company an outperform rating in a research report on Tuesday. Jefferies Financial Group initiated coverage on Mirati Therapeutics in a research report on Monday, September 20th. They issued a buy rating and a $193.00 target price on the stock. Finally, Zacks Investment Research upgraded Mirati Therapeutics from a sell rating to a hold rating and set a $172.00 target price on the stock in a research report on Friday, July 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Mirati Therapeutics has an average rating of Buy and a consensus price target of $215.41.

Shares of NASDAQ MRTX opened at $166.36 on Wednesday. Mirati Therapeutics has a 52 week low of $131.46 and a 52 week high of $249.42. The stock has a market capitalization of $8.59 billion, a P/E ratio of -16.74 and a beta of 1.37. The stock’s fifty day moving average is $159.10 and its 200 day moving average is $162.82.

Mirati Therapeutics (NASDAQ:MRTX) last issued its quarterly earnings results on Thursday, August 5th. The biotechnology company reported ($3.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.40) by ($0.83). Research analysts anticipate that Mirati Therapeutics will post -11.76 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the stock. Avoro Capital Advisors LLC lifted its stake in shares of Mirati Therapeutics by 7.0% in the second quarter. Avoro Capital Advisors LLC now owns 5,000,000 shares of the biotechnology company’s stock worth $807,650,000 after acquiring an additional 325,000 shares during the period. BlackRock Inc. lifted its stake in shares of Mirati Therapeutics by 6.8% in the first quarter. BlackRock Inc. now owns 4,573,591 shares of the biotechnology company’s stock worth $783,456,000 after acquiring an additional 293,179 shares during the period. Boxer Capital LLC lifted its stake in shares of Mirati Therapeutics by 13.3% in the first quarter. Boxer Capital LLC now owns 2,000,000 shares of the biotechnology company’s stock worth $342,600,000 after acquiring an additional 234,440 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Mirati Therapeutics by 25.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,921,779 shares of the biotechnology company’s stock worth $310,425,000 after acquiring an additional 389,279 shares during the period. Finally, RTW Investments LP lifted its stake in shares of Mirati Therapeutics by 9.3% in the second quarter. RTW Investments LP now owns 1,457,532 shares of the biotechnology company’s stock worth $235,435,000 after acquiring an additional 124,300 shares during the period.

Mirati Therapeutics Company Profile

Mirati Therapeutics, Inc operates as a clinical-stage oncology company, which engages in the development of novel therapeutics. The firm’s products targets the genetic and immunological promoters of cancer. Its clinical pipeline consists of Adagrasib, MRTX1133, and Sitravatinib. The company was founded on December 13, 1995 and is headquartered in San Diego, CA.

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Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

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