In a report released today, Edward White from H.C. Wainwright maintained a Buy rating on Mirati Therapeutics (MRTX), with a price target of $65. The company’s shares closed yesterday at $37.37.
White commented:
“We derive our $65 price target from a sum-of-the-parts analysis based on probability-adjusted revenue forecasts for sitravatinib and mocetinostat. We use the net present value of our revenue forecast through 2027, apply a 50% probability of success (POS) for sitravatinib in combination with checkpoint inhibitors, a 45% POS for sitravatinib monotherapy, 15% POS for mocetinostat, our YE2018 fully diluted net cash estimate of $4.79/share, and we value the early stage pipeline at $5.38/share to arrive at our price target.”
According to TipRanks.com, White is a 5-star analyst with an average return of 14.0% and a 43.9% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Synthetic Biologics Inc.
Mirati Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $56, which is a 49.9% upside from current levels. In a report released yesterday, Oppenheimer also assigned a Buy rating to the stock with a $57 price target.
.
See today’s analyst top recommended stocks >>
Based on Mirati Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $27.57 million. In comparison, last year the company had a GAAP net loss of $16.35 million.
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.
