Cowen & Co. analyst Chris Shibutani reiterated a Buy rating on Mirati Therapeutics (NASDAQ: MRTX) on June 26. The company’s shares closed yesterday at $47.20, close to its 52-week high of $53.50.
According to TipRanks.com, Shibutani is a 4-star analyst with an average return of 11.1% and a 40.7% success rate. Shibutani covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Five Prime Therapeutics, and Pieris Pharmaceuticals.
Mirati Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $45.67, representing a -3.2% downside. In a report issued on June 19, SunTrust Robinson also maintained a Buy rating on the stock with a $60 price target.
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Based on Mirati Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $14.71 million. In comparison, last year the company had a GAAP net loss of $17.85 million.
Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MRTX in relation to earlier this year. Most recently, in April 2018, Isan Chen, the EVP, Chief Medical Officer of MRTX bought 13,038 shares for a total of $220,817.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
