NASDAQ:MRTX Has Raised Its Target Price to $190.00


NASDAQ:MRTX has decided to up its target price after investment analysts at CSFB confirmed it in a research report. The price has been increased from $140.00 to $190.00, according to reports from Stock Target Advisor. NASDAQ:MRTX currently has a tag of an ‘outperform’ on the stock of this biotechnology company. The price target of CSFB has indicated a potential upside of 4.58%- after the previous close of the stock

Several research reports have focused on MRTX, after BidaskClub raised the Mirati Therapeutics’ shares from a ‘hold’ to a ‘buy’ in a report dated the 18th of September. The Credit Suisse Group also raised the target price on shares of the same company from $140.00 to $190.00 after giving NASDAQ:MRTX an ‘outperform’ in yet another report. Yet, another company HC Wainwright also raised their objective price on the shares of the Mirati Therapeutics from $163.00 to $185.00, after rating the stock ‘buy’. There were instances of coverage of the shares by BofA Securities who gave them a ‘neutral’ rating, while putting an objective price of $172.00. And finally, Citigroup started downgrading the shares of the company directly from a ‘buy’ to a ‘neutral’ whilst increasing the price objective from a measly $127.00 to a solid $183.00. There have been as many as six analysts in investment who have started rating the stock as ‘hold’, while around twelve gave them a ‘buy’. NASDAQ:MRTX current boasts of a ‘Buy’ rating, with a target price of $151.80. 

The Quarterly Earnings of NASDAQ:MRTX

The shares of NASDAQ:MRTX has already traded up almost $1.51, reaching a total of $181.68. More than 1,200 shares of the company had already traded hands if you compare it with the average volume of 509,977. The simple moving average of 50 days for this firm is $151.99, where the simple moving average for 200 days is around $151.99. There is a market capitalization of $8.02 billion, with a beta of 1.85, and a ratio of -25.52 for P/E. The 52 weeks high for this company is $182.42, while the 52 weeks low is set around $66.01. 

The quarterly earnings for Mirati Therapeutics (NASDAQ:MRTX) was previously announced on the 6th of August. The company for biotechnology had reported around $1.89 earnings/share, which beat the estimates of the analysts- $2.10. The company had a net margin which was negative- 10,983.84%, along with a return on equity being negative 57.01%. If taken as a group, the research analysts for equities forecasted that NASDAQ:MRTX would post close to -8.32 EPS in the current year. 

About Mirati Therapeutics (NASDAQ:MRTX)

NASDAQ: MRTX is an oncology company at the clinical-stage, which has been developing product candidates in order to address the immunological and genetic cancer promoters in the United States. Currently, it is developing an MRTX849 and a G12C KRAS inhibitor- which is currently in its primary clinical trial. 

NASDAQ:MRTX’s trials are usually aimed at treating the NSCL (non-small cell lung), pancreatic, colorectal, and other varied cancer genes. It is also developing sitravatinib- which is basically a kinase inhibitor functioning as spectrum-selective.