Mirati Therapeutics Gets a Buy Rating from SunTrust Robinson

By Austin Angelo

SunTrust Robinson analyst Peter Lawson reiterated a Buy rating on Mirati Therapeutics (NASDAQ: MRTX) on October 9 and set a price target of $13. The company’s shares opened today at $14.55, close to its 52-week high of $15.50.

According to TipRanks.com, Lawson is a 5-star analyst with an average return of 18.8% and a 55.0% success rate. Lawson covers the Healthcare sector, focusing on stocks such as Merrimack Pharmaceuticals, Bellicum Pharmaceuticals, and Adaptimmune Therapeutics.

Currently, the analyst consensus on Mirati Therapeutics is Moderate Buy and the average price target is $14, representing a -3.8% downside.

In a report released today, H.C. Wainwright also assigned a Buy rating to the stock with a $20 price target.

The company has a one-year high of $15.50 and a one-year low of $2.70. Currently, Mirati Therapeutics has an average volume of 1.25M.

Based on the recent corporate insider activity of 11 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. Earlier this month, Boxer Capital, Llc, a Major Shareholder at MRTX bought 267,966 shares for a total of $2,106,213.

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 biopharmaceutical company, which engages in developing a pipeline of oncology products to treat genetic and epigenetic drivers of cancer in subsets of cancer patients. Its clinical pipeline consists of glesatinib, sitravatinib and mocetinostat.