Piper Sandler Sees Upside Potential In Mirati Therapeutics, Inc. (NASDAQ:MRTX), Increases Price Target

Mirati Therapeutics, Inc. (NASDAQ:MRTX) shares could still deliver more than 16.54 percent upside potential from the current levels. This is based on the revised price target of Piper Sandler at $ 210.00 on the stock. Incidentally, the brokerage raised its price objective by $ 40 from its earlier level of $ 170.00. However, Piper Sandler has retained its Overweight rating on Mirati Therapeutics, Inc. shares, Benzinga reported.

Shares of Mirati Therapeutics, Inc. traded low $ -0.05 or -0.03 percent on Friday, reaching $ 180.20 with volume of 456.30 thousand shares. Mirati Therapeutics, Inc. has traded high as $ 184.05 and has cracked $ 177.80 on the downward trend According to the previous trading day, closing price of $ 180.20, representing a 173.06 % increase from the 52 week low of $ 66.01 and a 11.54 % decrease over the 52 week high of $ 203.77.

With respect to the key metrics, Mirati Therapeutics, Inc. stock has advanced $ 53.21 or 42.00 percent, reaching $ 126.99 during the simple moving average (SMA) period of 200 days. Similarly, the stock has increased $ 10.92 or 6.00 percent, before arriving at $ 169.28 during the SMA50-day period.

Moving forward, analysts surveyed by Thomson Reuters are expecting Mirati Therapeutics, Inc. to report third quarter loss of $ 1.97 per share from revenue of $ 2.79 million. For the full year, analysts anticipate top line of $ 3.24 million, while looking forward to loss of $ 8.19 per share bottom line.

Other analyst recommendations for Mirati Therapeutics, Inc. Today
  • Maintained By SVB Leerink At Outperform Rating, With $ 195.00 Target Price.
  • Maintained By HC Wainwright At Buy Rating, With $ 238.00 Target Price.

Mirati Therapeutics, Inc., a clinical-stage oncology company, develops product candidates to address the genetic and immunological promoters of cancer in the United States. The company is involved in developing sitravatinib, a spectrum-selective kinase inhibitor, which is in Phase II clinical for the treatment of non-small cell lung cancer (NCSLC); and in Phase Ib clinical trial to treat NCSLC patients with Casitas B-lineage Lymphoma genetic alterations, as well as KRAS G12C inhibitor program for NSCLC adenocarcinoma patients, colorectal cancer patients, and other cancers. It also develops mocetinostat, an orally investigational selective Class I and IV histone deacetylase inhibitor that has completed Phase II clinical trial in combination with durvalumab for the treatment of patients with NSCLC.