The stock of Mirati Therapeutics, Inc. (NASDAQ:MRTX) is a huge mover today! About 90,824 shares traded hands. Mirati Therapeutics, Inc. (NASDAQ:MRTX) has declined 72.49% since March 8, 2016 and is downtrending. It has underperformed by 81.81% the S&P500.
The move comes after 8 months negative chart setup for the $118.95 million company. It was reported on Oct, 11 by Barchart.com. We have $4.85 PT which if reached, will make NASDAQ:MRTX worth $14.27 million less.
Analysts await Mirati Therapeutics, Inc. (NASDAQ:MRTX) to report earnings on November, 4. They expect $-1.15 earnings per share, down 3.60% or $0.04 from last year’s $-1.11 per share. After $-1.11 actual earnings per share reported by Mirati Therapeutics, Inc. for the previous quarter, Wall Street now forecasts 3.60% negative EPS growth.
Mirati Therapeutics, Inc. (NASDAQ:MRTX) Ratings Coverage
Out of 7 analysts covering Mirati Therapeutics (NASDAQ:MRTX), 4 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 57% are positive. Mirati Therapeutics has been the topic of 14 analyst reports since September 17, 2015 according to StockzIntelligence Inc. The company was initiated on Monday, November 23 by Citigroup. Barclays Capital maintained the shares of MRTX in a report on Monday, June 6 with “Overweight” rating. The rating was maintained by Citigroup with “Buy” on Monday, June 6. The stock of Mirati Therapeutics, Inc. (NASDAQ:MRTX) earned “Outperform” rating by Leerink Swann on Thursday, March 10. The firm earned “Overweight” rating on Monday, October 19 by Barclays Capital. Wedbush maintained the shares of MRTX in a report on Monday, June 6 with “Outperform” rating. The stock of Mirati Therapeutics, Inc. (NASDAQ:MRTX) has “Mkt Perform” rating given on Monday, June 6 by Leerink Swann. The firm has “Outperform” rating given on Tuesday, May 24 by Wedbush. The firm has “Hold” rating by Jefferies given on Monday, June 6. The stock of Mirati Therapeutics, Inc. (NASDAQ:MRTX) earned “Buy” rating by Jefferies on Thursday, March 10.
According to Zacks Investment Research, “Mirati Therapeutics, Inc. is a biopharmaceutical company. It engaged in the development of novel therapeutics for the treatment of cancer. Mirati Therapeutics, Inc., formerly known as MethylGene Inc., is based in Montreal, Canada.”
Insitutional Activity: The institutional sentiment increased to 1.41 in Q2 2016. Its up 0.15, from 1.26 in 2016Q1. The ratio increased, as 13 funds sold all Mirati Therapeutics, Inc. shares owned while 14 reduced positions. 14 funds bought stakes while 24 increased positions. They now own 10.96 million shares or 21.66% less from 13.99 million shares in 2016Q1.
Swiss Commercial Bank holds 21,000 shares or 0% of its portfolio. Citigroup, a New York-based fund reported 591 shares. California State Teachers Retirement Sys reported 26,594 shares or 0% of all its holdings. Sg Americas Secs Ltd Liability holds 18,049 shares or 0% of its portfolio. The New York-based Commercial Bank Of New York Mellon has invested 0% in Mirati Therapeutics, Inc. (NASDAQ:MRTX). Northern Tru Corporation reported 153,684 shares or 0% of all its holdings. Rhenman And Prtnrs Asset holds 0.05% or 50,000 shares in its portfolio. The New York-based Rtw Invests Ltd Limited Liability Company has invested 0.24% in Mirati Therapeutics, Inc. (NASDAQ:MRTX). Blackrock Ltd owns 5,491 shares or 0% of their US portfolio. Blackrock Investment Limited Liability last reported 43,708 shares in the company. Bnp Paribas Arbitrage has 0% invested in the company for 540 shares. Credit Suisse Ag has invested 0% of its portfolio in Mirati Therapeutics, Inc. (NASDAQ:MRTX). Blackrock Group Ltd accumulated 0% or 3,821 shares. Citadel Advisors Limited Liability Com last reported 22,064 shares in the company. Ladenburg Thalmann Financial Services Incorporated has 273 shares for 0% of their US portfolio.
Insider Transactions: Since June 6, 2016, the stock had 2 insider buys, and 1 sale for $5.51 million net activity. BAUM CHARLES M had bought 20,000 shares worth $141,070 on Tuesday, June 14. $9.40M worth of Mirati Therapeutics, Inc. (NASDAQ:MRTX) was sold by BAKER BROS. ADVISORS LP on Tuesday, June 7. On Monday, June 6 the insider Braslyn Ltd. bought $3.75 million.
More notable recent Mirati Therapeutics, Inc. (NASDAQ:MRTX) news were published by: Fool.com which released: “Why Mirati Therapeutics, Inc.’s Shares Are Being Obliterated Today” on June 06, 2016, also Prnewswire.com with their article: “Mirati Therapeutics Announces Change In Executive Leadership” published on June 22, 2016, Prnewswire.com published: “Mirati Therapeutics Announces Promotion Of Jamie A. Donadio To Chief Financial …” on March 23, 2016. More interesting news about Mirati Therapeutics, Inc. (NASDAQ:MRTX) were released by: Prnewswire.com and their article: “Mirati Therapeutics Appoints Chris LeMasters To Role Of Executive Vice …” published on October 04, 2016 as well as Prnewswire.com‘s news article titled: “Mirati Therapeutics Provides Progress Update On Current Clinical Trials” with publication date: June 05, 2016.
MRTX Company Profile
Mirati Therapeutics, Inc., incorporated on April 29, 2013, is a clinical-stage biopharmaceutical company. The Firm is focused on developing a pipeline of targeted oncology products. The Company’s clinical pipeline consists of three product candidates: MGCD265, MGCD516 and mocetinostat. Mocetinostat has completed approximately 10 clinical trials in over 400 patients with a range of hematologic malignancies and solid tumors.
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