Mirati Therapeutics (MRTX) Gets a Buy Rating from Cowen & Co.


Cowen & Co. analyst Chris Shibutani reiterated a Buy rating on Mirati Therapeutics (NASDAQ: MRTX) today. The company’s shares opened today at $49.30.

According to TipRanks.com, Shibutani is a 3-star analyst with an average return of 6.6% and a 38.4% success rate. Shibutani covers the Healthcare sector, focusing on stocks such as Pieris Pharmaceuticals, Nektar Therapeutics, and United Therapeutics.

Currently, the analyst consensus on Mirati Therapeutics is a Strong Buy with an average price target of $68.40.

See today’s analyst top recommended stocks >>

Based on Mirati Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $27.87 million. In comparison, last year the company had a GAAP net loss of $18.34 million.

Based on the recent corporate insider activity of 25 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 July 2018, Isan Chen, the EVP, Chief Medical Officer of MRTX bought 1,867 shares for a total of $39,032.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts