Fintel reports that on October 6, 2023, BMO Capital maintained coverage of Mirati Therapeutics (NASDAQ:MRTX) with a Market Perform recommendation.
Analyst Price Forecast Suggests 8.03% Downside
As of October 5, 2023, the average one-year price target for Mirati Therapeutics is 55.32. The forecasts range from a low of 24.24 to a high of $95.55. The average price target represents a decrease of 8.03% from its latest reported closing price of 60.15.
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The projected annual revenue for Mirati Therapeutics is 85MM, an increase of 213.76%. The projected annual non-GAAP EPS is -13.80.
What is the Fund Sentiment?
There are 450 funds or institutions reporting positions in Mirati Therapeutics. This is a decrease of 35 owner(s) or 7.22% in the last quarter. Average portfolio weight of all funds dedicated to MRTX is 0.31%, an increase of 1.89%. Total shares owned by institutions increased in the last three months by 2.21% to 67,955K shares. 
The put/call ratio of MRTX is 0.32, indicating a bullish outlook.
What are Other Shareholders Doing?
Avoro Capital Advisors holds 5,556K shares representing 8.14% ownership of the company. No change in the last quarter.
Rtw Investments holds 4,473K shares representing 6.55% ownership of the company. In it's prior filing, the firm reported owning 3,643K shares, representing an increase of 18.55%. The firm increased its portfolio allocation in MRTX by 9.08% over the last quarter.
Armistice Capital holds 3,978K shares representing 5.83% ownership of the company. In it's prior filing, the firm reported owning 3,692K shares, representing an increase of 7.19%. The firm increased its portfolio allocation in MRTX by 5.21% over the last quarter.
Wellington Management Group Llp holds 3,388K shares representing 4.96% ownership of the company. In it's prior filing, the firm reported owning 2,696K shares, representing an increase of 20.43%. The firm increased its portfolio allocation in MRTX by 16.54% over the last quarter.
Aviva Holdings holds 3,136K shares representing 4.59% ownership of the company. No change in the last quarter.
Mirati Therapeutics Background Information
(This description is provided by the company.)
Mirati Therapeutics is a late-stage biotechnology company whose mission is to discover, design and deliver breakthrough therapies to transform the lives of patients with cancer and their loved ones. The company is relentlessly focused on bringing forward therapies that address areas of high unmet need, including lung cancer, and advancing a pipeline of novel therapeutics targeting the genetic and immunological drivers of cancer. Mirati is using its scientific expertise to develop novel solutions in two registration-enabling programs: adagrasib (MRTX849), an investigational small molecule, potent and selective KRAS G12C inhibitor, as monotherapy and in combination with other agents, and sitravatinib, an investigational spectrum-selective inhibitor of receptor tyrosine kinases in combination with checkpoint inhibitor therapies. Mirati is also advancing its differentiated preclinical portfolio, including MRTX1133, an investigational KRAS G12D inhibitor, and other oncology discovery programs. Unified for patients, Mirati's vision is to unlock the science behind the promise of a life beyond cancer.
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