Cowen & Co. analyst Chris Shibutani maintained a Buy rating on Mirati Therapeutics (MRTX) yesterday. The company’s shares closed last Monday at $87.27.
According to TipRanks.com, Shibutani is a 4-star analyst with an average return of 3.7% and a 40.6% 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 Moderate Buy, with a price target consensus of $106.86, implying a 24.3% upside from current levels. In a report released yesterday, JonesTrading also reiterated a Buy rating on the stock.
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Based on Mirati Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $45.7 million. In comparison, last year the company had a GAAP net loss of $27.87 million.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MRTX in relation to earlier this year. Most recently, in July 2019, Boxer Capital, Llc, a Major Shareholder at MRTX sold 725,008 shares for a total of $71,268,328.
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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.
