Cantor Fitzgerald analyst Varun Kumar reiterated a Hold rating on Mirati Therapeutics (MRTX) today and set a price target of $66. The company’s shares opened today at $69.87.
Kumar observed:
“We note that NVS’s combo now joins several other active novel combinations ongoing in IO-progressed NSCLC patients, and support our cautious outlook on MRTX’s sitravatinib combo, where Phase III study initiation is expected in 2Q 2019.”
According to TipRanks.com, Kumar is ranked #2519 out of 5229 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Mirati Therapeutics with a $81.33 average price target.
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Based on Mirati Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $28.27 million. In comparison, last year the company had a GAAP net loss of $14.71 million.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is neutral on the stock.
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Mirati Therapeutics, Inc. is a clinical-stage oncology company, which engages in developing a pipeline of oncology products to treat genetic, immunological and epigenetic drivers of cancer in subsets of cancer patients. Its clinical pipeline consists of glesatinib, sitravatinib and mocetinostat.
