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


Cowen & Co. analyst Chris Shibutani maintained a Buy rating on Mirati Therapeutics (MRTX) yesterday. The company’s shares closed yesterday at $93.65.

According to TipRanks.com, Shibutani is a 4-star analyst with an average return of 5.2% and a 38.7% 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 $109.36, implying a 16.8% upside from current levels. In a report issued on July 31, Leerink Partners also maintained a Buy rating on the stock with a $118 price target.

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Based on Mirati Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $40.91 million. In comparison, last year the company had a GAAP net loss of $27.87 million.

Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock. Last month, Boxer Capital, Llc, a Major Shareholder at MRTX sold 725,008 shares for a total of $71,268,328.

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.

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