Worth Watching: What’s Next for Mirati Therapeutics, Inc. After Today’s Huge Increase?

Worth Watching: What's Next for Mirati Therapeutics, Inc. After Today's Huge Increase?

The stock of Mirati Therapeutics, Inc. (NASDAQ:MRTX) is a huge mover today! About 136,136 shares traded hands. Mirati Therapeutics, Inc. (NASDAQ:MRTX) has declined 76.04% since March 10, 2016 and is downtrending. It has underperformed by 83.56% the S&P500.
The move comes after 8 months positive chart setup for the $101.41M company. It was reported on Oct, 13 by Barchart.com. We have $10.53 PT which if reached, will make NASDAQ:MRTX worth $97.35 million more.

Analysts await Mirati Therapeutics, Inc. (NASDAQ:MRTX) to report earnings on November, 4. They expect $-1.15 EPS, down 3.60% or $0.04 from last year’s $-1.11 per share. After $-1.11 actual EPS 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 maintained on Monday, June 6 by Barclays Capital. The firm has “Outperform” rating given on Thursday, March 10 by Leerink Swann. On Wednesday, January 13 the stock rating was upgraded by Citigroup to “Buy”. The firm has “Neutral” rating given on Monday, November 23 by Citigroup. On Monday, June 6 the stock rating was downgraded by Leerink Swann to “Mkt Perform”. As per Tuesday, May 24, the company rating was maintained by Wedbush. The firm has “Overweight” rating by Barclays Capital given on Monday, October 19. Piper Jaffray downgraded the shares of MRTX in a report on Thursday, September 17 to “Neutral” rating. The firm earned “Outperform” rating on Monday, June 6 by Wedbush. The company was maintained on Monday, June 6 by Citigroup.

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 is positive, 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.
Susquehanna International Ltd Liability Partnership holds 28,774 shares or 0% of its portfolio. Tiaa Cref Ltd Liability holds 0% or 50,372 shares in its portfolio. Teachers Incorporated holds 0% or 16,467 shares in its portfolio. Schwab Charles Investment Management has invested 0% of its portfolio in Mirati Therapeutics, Inc. (NASDAQ:MRTX). Vanguard Grp Inc last reported 624,044 shares in the company. Retail Bank Of New York Mellon Corp has invested 0% of its portfolio in Mirati Therapeutics, Inc. (NASDAQ:MRTX). Ghost Tree Ltd Limited Liability Company owns 75,000 shares or 0.12% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) holds 0% or 365 shares in its portfolio. Bnp Paribas Arbitrage Sa holds 0% or 540 shares in its portfolio. Citadel Advsr Ltd Com accumulated 0% or 22,064 shares. Group Inc Inc holds 0% or 7,308 shares in its portfolio. Sg Americas Securities Ltd Limited Liability Company accumulated 18,049 shares or 0% of the stock. Renaissance Technology Limited Liability Corporation owns 235,720 shares or 0% of their US portfolio. California State Teachers Retirement Sys holds 0% of its portfolio in Mirati Therapeutics, Inc. (NASDAQ:MRTX) for 26,594 shares. Macquarie Group Inc Limited owns 80,000 shares or 0% of their US portfolio.

Insider Transactions: Since June 6, 2016, the stock had 2 buys, and 1 insider sale for $5.51 million net activity. BAUM CHARLES M bought $141,070 worth of stock. Braslyn Ltd. had bought 376,902 shares worth $3.75 million. BAKER BROS. ADVISORS LP sold 999,358 shares worth $9.40 million.

More notable recent Mirati Therapeutics, Inc. (NASDAQ:MRTX) news were published by: Prnewswire.com which released: “Mirati Therapeutics Announces Appointment Of Dr. Bruce L.A. Carter To Board Of …” on September 29, 2016, also Fool.com with their article: “Why Mirati Therapeutics, Inc.’s Shares Are Being Obliterated Today” published on June 06, 2016, Prnewswire.com published: “Mirati Therapeutics Announces Change In Executive Leadership” on June 22, 2016. More interesting news about Mirati Therapeutics, Inc. (NASDAQ:MRTX) were released by: Prnewswire.com and their article: “Mirati Therapeutics Announces Promotion Of Jamie A. Donadio To Chief Financial …” published on March 23, 2016 as well as Prnewswire.com‘s news article titled: “Mirati Therapeutics Appoints Chris LeMasters To Role Of Executive Vice …” with publication date: October 04, 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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