Cowen & Co. Keeps Their Buy Rating on Mirati Therapeutics (MRTX)

In a report released today, Chris Shibutani from Cowen & Co. maintained a Buy rating on Mirati Therapeutics (MRTX). The company’s shares closed last Monday at $84.63.

According to, Shibutani is a 4-star analyst with an average return of 7.0% and a 44.3% success rate. Shibutani covers the Healthcare sector, focusing on stocks such as Five Prime Therapeutics, Nektar Therapeutics, and United Therapeutics.

Currently, the analyst consensus on Mirati Therapeutics is a Strong Buy with an average price target of $119.75, implying a 37.5% upside from current levels. In a report issued on February 17, Oppenheimer also maintained a Buy rating on the stock with a $129.00 price target.

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Based on Mirati Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $54.27 million. In comparison, last year the company had a GAAP net loss of $28.27 million.

Based on the recent corporate insider activity of 38 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.

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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.

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