JonesTrading Believes Mirati Therapeutics (NASDAQ: MRTX) Still Has Room to Grow

JonesTrading analyst Soumit Roy reiterated a Buy rating on Mirati Therapeutics (MRTXResearch Report) today. The company’s shares closed last Friday at $130.88, close to its 52-week high of $132.59.

According to TipRanks.com, Roy is a 5-star analyst with an average return of 32.5% and a 50.7% success rate. Roy covers the Healthcare sector, focusing on stocks such as Deciphera Pharmaceuticals, Adaptimmune Therapeutics, and Monopar Therapeutics Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Mirati Therapeutics with a $127.20 average price target, a -2.7% downside from current levels. In a report issued on July 29, Credit Suisse also maintained a Buy rating on the stock with a $135.00 price target.

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Based on Mirati Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $267K and GAAP net loss of $86.84 million. In comparison, last year the company earned revenue of $1.24 million and had a GAAP net loss of $40.75 million.

Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MRTX in relation to earlier this year.

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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.