Mirati Therapeutics Received its Third Buy in a Row

By Carrie Williams

After SunTrust Robinson and Oppenheimer assigned a Buy rating to Mirati Therapeutics in the last month, the company received another Buy, this time from H.C. Wainwright. Analyst Edward White assigned a Buy rating to Mirati Therapeutics (NASDAQ: MRTX) today. The company’s shares closed yesterday at $15.50, close to its 52-week high of $16.50.

According to TipRanks.com, White is a 5-star analyst with an average return of 16.8% and a 48.8% success rate. White covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Syndax Pharmaceuticals Inc, and Spectrum Pharmaceuticals.

Currently, the analyst consensus on Mirati Therapeutics is Moderate Buy and the average price target is $14.20, representing a -8.4% downside.

In a report issued on November 2, Oppenheimer also assigned a Buy rating to the stock with a $18 price target.

The company has a one-year high of $16.50 and a one-year low of $2.70. Currently, Mirati Therapeutics has an average volume of 1.35M.

Based on the recent corporate insider activity of 13 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, Baker Bros. Advisors Lp, a Major Shareholder at MRTX bought 280,263 shares for a total of $2,202,867.

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.