H.C. Wainwright Starts Mirati Therapeutics (MRTX) at Buy, $12 PT

November 17, 2016 7:17 AM EST
Get Alerts MRTX Hot Sheet
Price: $5.25 -3.67%

Rating Summary:
    5 Buy, 4 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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H.C. Wainwright initiates coverage on Mirati Therapeutics (NASDAQ: MRTX) with a Buy rating and a price target of $12.00.

Analyst Shaunak Deepak commented, " We believe that Mirati’s approach to drug development remains sound: identifying compounds that show activity in biomarker-specified subpopulations of patients. We believe Mirati’s selective kinase inhibitors, glesatinib and sitravatinib, offer the most compelling potential; however, we need to see additional efficacy data in 2017 to become more comfortable with their prospects. That said, with MRTX shares trading where the are, we believe Mirati could be a high-reward story with the otherwise high-risk offset by a relatively strong balance sheet."

For an analyst ratings summary and ratings history on Mirati Therapeutics click here. For more ratings news on Mirati Therapeutics click here.

Shares of Mirati Therapeutics closed at $5.70 yesterday.

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