JonesTrading Reiterates a Buy Rating on Mirati Therapeutics (MRTX)
JonesTrading analyst Soumit Roy reiterated a Buy rating on Mirati Therapeutics (MRTX) today and set a price target of $300.00. The company’s shares closed last Thursday at $150.77.
According to TipRanks.com, Roy is a 5-star analyst with an average return of 44.2% and a 43.8% success rate. Roy covers the Healthcare sector, focusing on stocks such as Deciphera Pharmaceuticals, Monopar Therapeutics Inc, and Adaptimmune Therapeutics.
Mirati Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $258.00, implying a 71.1% upside from current levels. In a report issued on April 26, Credit Suisse also initiated coverage with a Buy rating on the stock with a $285.00 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 $1.71 million and GAAP net loss of $102 million. In comparison, last year the company earned revenue of $526K and had a GAAP net loss of $72.38 million.
Based on the recent corporate insider activity of 95 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.
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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.