JonesTrading Believes Mirati Therapeutics (NASDAQ: MRTX) Won’t Stop Here

By Ryan Adsit

JonesTrading analyst Soumit Roy reiterated a Buy rating on Mirati Therapeutics (MRTXResearch Report) today. The company’s shares closed last Friday at $161.09, close to its 52-week high of $171.48.

According to TipRanks.com, Roy is a 5-star analyst with an average return of 35.5% and a 58.7% success rate. Roy covers the Healthcare sector, focusing on stocks such as Deciphera Pharmaceuticals, Actinium Pharmaceuticals, and Adaptimmune Therapeutics.

Currently, the analyst consensus on Mirati Therapeutics is a Strong Buy with an average price target of $168.50, a 6.0% upside from current levels. In a report issued on September 17, H.C. Wainwright also maintained a Buy rating on the stock with a $185.00 price target.

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Based on Mirati Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $81.28 million. In comparison, last year the company earned revenue of $577K and had a GAAP net loss of $45.54 million.

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Mirati Therapeutics, Inc. is a clinical-stage oncology company. The firm 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. The company was founded on December 13, 1995 and is headquartered in San Diego, CA.