Market Analysts see Mirati Therapeutics Inc [MRTX] falling to $48. Time to buy?

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Mirati Therapeutics Inc [NASDAQ: MRTX] traded at a low on 11/09/23, posting a -0.36 loss after which it closed the day’ session at $55.77. The company report on November 6, 2023 at 8:00 AM that Mirati Therapeutics Reports Third Quarter 2023 Financial Results and Recent Corporate Updates.

Mirati Therapeutics, Inc.® (NASDAQ: MRTX), a commercial stage biotechnology company, today announced financial results for the third quarter 2023 along with recent pipeline and corporate updates.

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“We are pleased to share the significant progress made during the third quarter of 2023, highlighted by the advancement of our robust pipeline of targeted oncology programs and continued launch execution of KRAZATI®,” said Charles Baum, M.D., Ph.D., CEO, president and founder, Mirati Therapeutics, Inc. “As we shared last month, we believe our pending acquisition by Bristol Myers Squibb will support the realization of the full potential of our therapies and enable the promise of a life beyond cancer. We look forward to continuing our work to improve the lives of people with cancer through Mirati discovered and developed therapeutics.”.

The results of the trading session contributed to over 1850094 shares changing hands. Over the past one week, the price volatility of Mirati Therapeutics Inc stands at 0.93% while the volatility over the past one month is 1.14%.

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The market cap for MRTX stock reached $3.91 billion, with 70.14 million shares outstanding and 67.97 million shares in the current float. Compared to the average trading volume of 2.30M shares, MRTX reached a trading volume of 1850094 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Mirati Therapeutics Inc [MRTX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MRTX shares is $60.15 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MRTX stock is a recommendation set at 2.59. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Mirati Therapeutics Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 10, 2023.

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The Average True Range (ATR) for Mirati Therapeutics Inc is set at 1.15, with the Price to Sales ratio for MRTX stock in the period of the last 12 months amounting to 102.43. The Price to Book ratio for the last quarter was 4.13, with the Price to Cash per share for the same quarter was set at 13.92.

How has MRTX stock performed recently?

Mirati Therapeutics Inc [MRTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.13. With this latest performance, MRTX shares dropped by -1.73% in over the last four-week period, additionally plugging by 15.90% over the last 6 months – not to mention a drop of -6.17% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MRTX stock in for the last two-week period is set at 62.54, with the RSI for the last a single of trading hit 57.73, and the three-weeks RSI is set at 63.64 for Mirati Therapeutics Inc [MRTX]. The present Moving Average for the last 50 days of trading for this stock 47.37, while it was recorded at 56.02 for the last single week of trading, and 42.35 for the last 200 days.

Mirati Therapeutics Inc [MRTX]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Mirati Therapeutics Inc [MRTX] shares currently have an operating margin of -6107.98 and a Gross Margin at +71.62. Mirati Therapeutics Inc’s Net Margin is presently recorded at -5957.44.

Return on Total Capital for MRTX is now -60.99, given the latest momentum, and Return on Invested Capital for the company is -59.67. Return on Equity for this stock declined to -61.91, with Return on Assets sitting at -53.08. When it comes to the capital structure of this company, Mirati Therapeutics Inc [MRTX] has a Total Debt to Total Equity ratio set at 5.17. Additionally, MRTX Total Debt to Total Capital is recorded at 4.91, with Total Debt to Total Assets ending up at 4.28. Long-Term Debt to Equity for the company is recorded at 4.38, with the Long-Term Debt to Total Capital now at 4.17.

Reflecting on the efficiency of the workforce at the company, Mirati Therapeutics Inc [MRTX] managed to generate an average of -$1,249,354 per employee. Receivables Turnover for the company is 3.98 with a Total Asset Turnover recorded at a value of 0.01.Mirati Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.40 and a Current Ratio set at 7.54.

Insider trade positions for Mirati Therapeutics Inc [MRTX]

The top three institutional holders of MRTX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in MRTX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in MRTX stock with ownership which is approximately 5.7994%.

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