In yesterday’s Wall Street session, Mirati Therapeutics Inc. (NASDAQ:MRTX) shares traded at $39.20, up 5.95% from the previous session.
20 analysts cover Mirati Therapeutics Inc. (NASDAQ:MRTX), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $91.00 and a low of $20.00, we find $48.00. Given the previous closing price of $37.00, this indicates a potential upside of 29.73 percent. MRTX stock price is now 10.54% away from the 50-day moving average and -16.39% away from the 200-day moving average. The market capitalization of the company currently stands at $2.30B.
The stock has received a hold rating from 5 analysts and a buy rating from 13. Brokers who have rated the stock have averaged $54.00 as their price target over the next twelve months.
With the price target reduced from $51 to $48, Citigroup Upgraded its rating from Neutral to Buy for Mirati Therapeutics Inc. (NASDAQ: MRTX).
In other news, Stelzer Laurie, Chief Financial Officer sold 4,647 shares of the company’s stock on Jun 02. The stock was sold for $172,218 at an average price of $37.06. Upon completion of the transaction, the Chief Financial Officer now directly owns 80,015 shares in the company, valued at $3.14 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 24, EVP & Chief Scientific Officer Christensen Jamie sold 619 shares of the business’s stock. A total of $28,035 was realized by selling the stock at an average price of $45.29. This leaves the insider owning 124,123 shares of the company worth $4.87 million. Insiders disposed of 122,835 shares of company stock worth roughly $4.82 million over the past 1 year. A total of 0.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MRTX stock. A new stake in Mirati Therapeutics Inc. shares was purchased by MARSHALL WACE, LLP during the first quarter worth $21,662,000. PFM HEALTH SCIENCES, LP invested $12,503,000 in shares of MRTX during the first quarter. In the first quarter, HRT FINANCIAL LP acquired a new stake in Mirati Therapeutics Inc. valued at approximately $3,187,000. SEI INVESTMENTS CO acquired a new stake in MRTX for approximately $1,968,000. NATIXIS purchased a new stake in MRTX valued at around $1,243,000 in the second quarter. In total, there are 323 active investors with 112.41% ownership of the company’s stock.
On Thursday morning Mirati Therapeutics Inc. (NASDAQ: MRTX) stock kicked off with the opening price of $37.83. During the past 12 months, Mirati Therapeutics Inc. has had a low of $27.30 and a high of $101.30. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 7.50, and a quick ratio of 7.50. The fifty day moving average price for MRTX is $35.50 and a two-hundred day moving average price translates $46.76 for the stock.
The latest earnings results from Mirati Therapeutics Inc. (NASDAQ: MRTX) was released for Jun, 2023. According to the Biotechnology Company, earnings per share came in at -$3.04, beating analysts’ expectations of -$3.17 by 0.13. This compares to -$3.18 EPS in the same period last year. The company reported revenue of $13.69 million for the quarter, compared to $5.36 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 155.32 percent. For the current quarter, analysts expect MRTX to generate $18.31M in revenue.
Mirati Therapeutics Inc.(MRTX) Company Profile
Mirati Therapeutics, Inc., a commercial-stage oncology company, develops novel therapeutics to address the genetic and immunological promoters of cancer in the United States. The company provides KRAZATI, an oral targeted treatment option for adult patients with KRAS G12C-mutated locally advanced or metastatic non-small cell lung (NSCLC), as well as in clinical development as a monotherapy and in combination with other agents. It also develops Sitravatinib, an investigational spectrum-selective kinase inhibitor in Phase 3 clinical development that inhibits receptor tyrosine kinases (RTKs), including TAM family receptors, split family receptors, and RET, which overcomes resistance to checkpoint inhibitor therapy through targeted reversal of an immunosuppressive tumor microenvironment that enhances antigen-specific T cell response and expanding dendritic cell-dependent antigen presentation. In addition, the company pipeline comprises the MRTX1719, an investigational synthetic lethal PRMT5 inhibitor designed to target the PRMT5/methylthioadensoine (MTA) complex and is in clinical development; MRTX0902, a selective SOS1 inhibitor that improves anti-tumor efficacy in combination with targeted mitogen-activated protein kinase (MAPK)-pathway inhibitors, and is in clinical development; and MRTX1133, an investigational lead KRAS G12D compound. It has a collaboration and license agreement with BeiGene, Ltd. to develop, manufacture, and commercialize sitravatinib; and Zai Lab Ltd. to research, develop, manufacture, and commercialize adagrasib in various indications. Mirati Therapeutics, Inc. was founded in 1995 and is headquartered in San Diego, California.
