Mirati Therapeutics, Inc. (NASDAQ:MRTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

According to Zacks, “Mirati Therapeutics, Inc. is a biopharmaceutical company. It engaged in the development of novel therapeutics for the treatment of cancer. Mirati Therapeutics, Inc., formerly known as MethylGene Inc., is based in Montreal, Canada. “

A number of other research firms have also issued reports on MRTX. Oppenheimer Holdings, Inc. initiated coverage on Mirati Therapeutics in a report on Monday, September 18th. They issued an “outperform” rating and a $18.00 target price for the company. ValuEngine upgraded Mirati Therapeutics from a “strong sell” rating to a “sell” rating in a report on Friday, September 15th. SunTrust Banks, Inc. restated a “buy” rating and issued a $13.00 target price on shares of Mirati Therapeutics in a report on Monday. Jefferies Group LLC restated a “hold” rating and issued a $4.50 target price on shares of Mirati Therapeutics in a report on Monday, June 12th. Finally, CIBC initiated coverage on Mirati Therapeutics in a report on Tuesday, September 19th. They issued an “outperform” rating and a $18.00 target price for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. Mirati Therapeutics currently has an average rating of “Hold” and a consensus price target of $12.63.

Mirati Therapeutics (NASDAQ:MRTX) opened at 14.95 on Thursday. The stock’s market cap is $373.29 million. Mirati Therapeutics has a 1-year low of $2.70 and a 1-year high of $15.00. The firm has a 50-day moving average price of $7.65 and a 200 day moving average price of $5.03.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sabby Management LLC increased its stake in shares of Mirati Therapeutics by 2.1% in the second quarter. Sabby Management LLC now owns 255,100 shares of the biotechnology company’s stock worth $921,000 after acquiring an additional 5,365 shares during the last quarter. Broadfin Capital LLC increased its stake in shares of Mirati Therapeutics by 19.1% in the second quarter. Broadfin Capital LLC now owns 2,490,801 shares of the biotechnology company’s stock worth $9,091,000 after acquiring an additional 400,000 shares during the last quarter. Susquehanna International Group LLP increased its stake in shares of Mirati Therapeutics by 46.5% in the second quarter. Susquehanna International Group LLP now owns 50,509 shares of the biotechnology company’s stock worth $184,000 after acquiring an additional 16,030 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Mirati Therapeutics by 845.4% in the second quarter. Goldman Sachs Group Inc. now owns 98,251 shares of the biotechnology company’s stock worth $359,000 after acquiring an additional 87,858 shares during the last quarter. Finally, PDT Partners LLC acquired a new position in shares of Mirati Therapeutics in the second quarter worth $200,000. 60.17% of the stock is currently owned by institutional investors and hedge funds.

About Mirati Therapeutics

Mirati Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of oncology products. The company’s clinical stage product candidates include glesatinib, an orally-bioavailable, potent, small molecule kinase inhibitor that is in Phase II clinical trials for the treatment of non-small cell lung cancer (NSCLC) patients with genetic alterations of MET; and in Phase Ib clinical trials in patients with genetic alterations of MET and Axl in NSCLC and other solid tumors.

Analyst Recommendations for Mirati Therapeutics (NASDAQ:MRTX)

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