After Leerink Partners and SunTrust Robinson gave Mirati Therapeutics (NASDAQ: MRTX) a Buy rating last month, the company received another Buy, this time from Cowen & Co. Analyst Chris Shibutani reiterated a Buy rating on Mirati Therapeutics today. The company’s shares opened today at $104.81, close to its 52-week high of $107.57.
According to TipRanks.com, Shibutani is a 4-star analyst with an average return of 9.0% and a 46.6% 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 $113.90, representing an 8.7% upside. In a report issued on June 18, Oppenheimer also maintained a Buy rating on the stock with a $120 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 $14.71 million.
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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.
