JonesTrading analyst Soumit Roy reiterated a Buy rating on Mirati Therapeutics (MRTX) today and set a price target of $130.00. The company’s shares closed last Monday at $93.79.
According to TipRanks.com, Roy is a 4-star analyst with an average return of 10.4% and a 35.7% success rate. Roy covers the Healthcare sector, focusing on stocks such as Deciphera Pharmaceuticals, Adaptimmune Therapeutics, and Monopar Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Mirati Therapeutics with a $116.57 average price target, representing a 30.7% upside. In a report issued on April 16, Goldman Sachs also initiated coverage with a Buy rating on the stock with a $151.00 price target.
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Based on Mirati Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $526K and GAAP net loss of $72.38 million. In comparison, last year the company earned revenue of $3.46 million and had a GAAP net loss of $28.24 million.
Based on the recent corporate insider activity of 33 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. The firm 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. The company was founded on December 13, 1995 and is headquartered in San Diego, CA.
