Mirati Therapeutics (MRTX) Receives a Buy from H.C. Wainwright

H.C. Wainwright analyst Edward White maintained a Buy rating on Mirati Therapeutics (MRTX) today and set a price target of $257.00. The company’s shares closed last Friday at $213.65.

According to TipRanks.com, White is a top 100 analyst with an average return of 55.1% and a 62.1% success rate. White covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Karyopharm Therapeutics, and Silverback Therapeutics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Mirati Therapeutics with a $239.83 average price target.

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Based on Mirati Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $11.42 million and GAAP net loss of $88.16 million. In comparison, last year the company earned revenue of $988K and had a GAAP net loss of $54.17 million.

Based on the recent corporate insider activity of 60 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 November 2020, Jamie Christensen, the EVP, Chief Scientific Officer of MRTX bought 10,879 shares for a total of $90,493.

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. 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.

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