Oppenheimer Sticks to Its Buy Rating for Mirati Therapeutics (MRTX)


In a report released today, Jay Olson from Oppenheimer maintained a Buy rating on Mirati Therapeutics (MRTX), with a price target of $129.00. The company’s shares closed last Monday at $84.63.

According to TipRanks.com, Olson ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -10.6% and a 32.3% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, Enanta Pharmaceuticals, and Axovant Gene Therapies.

Currently, the analyst consensus on Mirati Therapeutics is a Strong Buy with an average price target of $119.75, implying a 37.5% upside from current levels. In a report issued on February 18, JonesTrading also reiterated a Buy rating on the stock.

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Based on Mirati Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $72.38 million. In comparison, last year the company had a GAAP net loss of $28.27 million.

Based on the recent corporate insider activity of 38 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.

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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