The stock of Mirati Therapeutics Inc. (NASDAQ:MRTX) increased by $0.87 on Friday to finish at $39.68, up 2.24 percent. The last five days have seen an average of 3,087,725 shares of common stock traded. 8 times new highs were reached in the current year, with a fall of -$5.18. The average number of shares traded over the last 20 days was 1,620,736, while the average volume over the last 50 days totaled 1,250,872.
MRTX stock appreciated 12.00% since last month. On 08/08/23, the company’s shares reached a one-month low of $27.30. The stock touched a high of $101.30 on 01/31/23, after rallying from a low of $27.30 in 52 weeks. The price of MRTX stock has declined by -12.43% or -$5.18 this year, reaching a new high 8 times. Still, the stock price is down -60.83% from the 52-week high.
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Insider Transactions
MRTX stock investors should be aware that Mirati Therapeutics Inc. (MRTX) stock had its last reported insider trading activity 73 days ago on Jun 02. On Jun 02, Chief Financial Officer Stelzer Laurie sold 4,647 shares at $37.06 each. This transaction resulted in the insider making $172,218. On May 24, Christensen Jamie sold 619 shares at a price of US$45.29. After the transaction, the insider now owns 124,123 shares. Director Cherrington Julie M had earlier sold 2,546 shares on Jan 18 for $44.66 a share. The transaction was completed for $113,704.
Valuation Metrics
Beta for the stock is 0.88. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 86.35, the price-to-book (PB) ratio of 3.17.
Financial Health
For the three months ended June 29, Mirati Therapeutics Inc.’s quick ratio was 5.80, while its current ratio was 5.80, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 90.10% percent. Based on annual data, it had gross profit of $11.84 million and revenue of $12.44 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. MRTX’s return on assets (ROA) during the last 12 months has been -66.20%. There was a -76.30% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -79.40%.
Earnings Surprise
According to Mirati Therapeutics Inc.’s quarterly financial report for the quarter that ended June 29, it had $649.57 million in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $13.69 million, while revenues rose by 60.85% to $7.17 million. It was predicted that Mirati Therapeutics Inc.’s quarterly earnings would be -$3.04, but it ended up being -$3.17, beating the consensus by 4.10%. EBITDA was -$191.59 million for the quarter. At the end of Mirati Therapeutics Inc.’s most recent quarter ended June 29, its liabilities totaled 186.09 million, while its total debt was $50.68 million. Equity owned by shareholders amounts to $58.6 million.
Technical Picture
Here’s a quick look at Mirati Therapeutics Inc.’s (MRTX) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 75.58%, suggesting the stock is Overbought, with a 146.96% historical volatility rate.
The stochastic %K and %D were 94.66% and 84.20% respectively, while the average true range (ATR) was 2.26. Based on the 14-day stochastic reading of 99.81%, the RSI (14) reading is 67.49%. On the 9-day MACD Oscillator, the stock is at 6.02, and the 14-day reading is at 7.32.
Analyst Ratings
In its most recent analyst report, Citigroup raised its rating on Mirati Therapeutics Inc. (NASDAQ: MRTX) to a Buy. Prior to this, analysts firm rated the stock as a Neutral. Analysts have assigned Mirati Therapeutics Inc. (MRTX) an Overweight rating. MRTX is a stock that is recommended for selling by 1 brokerage firm, while 5 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 13 others recommend it as a buy.
What is MRTX’s price target for the next 12 months?
The current consensus forecast for the stock is between $24.00 and $91.00, with a median target price of $48.00. In analyzing these forecasts, the average price target given by analysts for Mirati Therapeutics Inc. (MRTX) is $54.24.
