Mirati Therapeutics (MRTX): After A Second Look, Neutral Is The Right Rating - Piper Jaffray

August 19, 2016 8:39 AM EDT
Get Alerts MRTX Hot Sheet
Price: $5.30 --0%

Rating Summary:
    5 Buy, 4 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 15 | Down: 17 | New: 10
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Piper Jaffray analyst, Steven Breazzano, reiterated his Neutral rating on Mirati Therapeutics (NASDAQ: MRTX). At the end of earnings season, the analyst reviews his outlook for the companies under coverage and thought his Neutral rating was the right position.

For MRTX, the analyst believes a key to reigniting investor interest is an update on the new formulation designed to improve bioavailability of glesatinib and reduce GI side effects. Initial signs appear promising. The company also is advancing two other oncology assets, sitravatinib (RET/TRK/DDR/CBL), and mocetinostat (HDAC), which will come into focus later this year and early next year.

However, the analyst sees the risk / reward as balanced with multiple shots on goal offset by a competitive landscape and as of yet undifferentiated assets.

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 $5.26 yesterday.

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