Mirati Therapeutics (NASDAQ:MRTX) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Mirati Therapeutics (NASDAQ:MRTX) in a research report report published on Monday, Analyst Ratings Network reports. The brokerage issued a buy rating and a $193.00 price target on the biotechnology company’s stock.

Several other research firms have also commented on MRTX. SVB Leerink reissued a buy rating on shares of Mirati Therapeutics in a research note on Sunday. HC Wainwright lowered their price objective on shares of Mirati Therapeutics from $251.00 to $247.00 and set a buy rating for the company in a research note on Monday, August 9th. JPMorgan Chase & Co. lowered their price objective on shares of Mirati Therapeutics from $205.00 to $203.00 and set an overweight rating for the company in a research note on Tuesday, September 7th. Morgan Stanley started coverage on shares of Mirati Therapeutics in a report on Thursday, August 26th. They issued an equal weight rating and a $160.00 target price on the stock. Finally, raised shares of Mirati Therapeutics from a neutral rating to a buy rating in a report on Friday, June 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Buy and an average target price of $211.87.

Shares of MRTX stock opened at $177.45 on Monday. The firm has a market cap of $9.16 billion, a PE ratio of -17.85 and a beta of 1.37. The company has a 50-day moving average of $158.70 and a two-hundred day moving average of $163.06. Mirati Therapeutics has a 1-year low of $131.46 and a 1-year high of $249.42.

Mirati Therapeutics (NASDAQ:MRTX) last posted its quarterly earnings data on Thursday, August 5th. The biotechnology company reported ($3.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.40) by ($0.83). As a group, sell-side analysts anticipate that Mirati Therapeutics will post -11.76 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Virtu Financial LLC acquired a new position in shares of Mirati Therapeutics in the 2nd quarter valued at $1,229,000. Parametric Portfolio Associates LLC grew its position in Mirati Therapeutics by 2.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 28,519 shares of the biotechnology company’s stock valued at $4,607,000 after buying an additional 682 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Mirati Therapeutics in the 2nd quarter valued at $455,000. Morgan Stanley grew its position in Mirati Therapeutics by 42.9% in the 2nd quarter. Morgan Stanley now owns 76,627 shares of the biotechnology company’s stock valued at $12,376,000 after buying an additional 23,009 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Mirati Therapeutics by 0.6% in the 2nd quarter. Wells Fargo & Company MN now owns 325,812 shares of the biotechnology company’s stock valued at $52,629,000 after buying an additional 1,977 shares during the last quarter.

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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