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Shares of Mirati Therapeut Rise Above Previous 52-Week High

By David Diaz

Mirati Therapeut (NASDAQ:MRTX) traded today at a new 52-week high of $51.30. This new high was reached on below average trading volume as 64,000 shares traded hands, while the average 30-day volume is approximately 593,000 shares.

Mirati Therapeutics, Inc. is a targeted oncology company developing a pipeline of therapeutics for precisely defined patient populations. The Mirati team is using a blueprint proven by their prior work for developing potential breakthrough therapies with accelerated development paths.

Mirati Therapeut (NASDAQ:MRTX) is currently priced 24.2% above its average consensus analyst price target of $38.60. The stock should find initial support at its 50-day moving average (MA) of $37.04 and further support at its 200-day MA of $24.25.

Mirati Therapeut share prices have moved between a 52-week high of $51.30 and a 52-week low of $2.70 and are now trading 1,787% above that low price at $50.95 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.8% while the 200-day MA has risen 2.8%.

SmarTrend recommended that subscribers consider buying shares of Mirati Therapeut on April 17th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.65. Since that recommendation, shares of Mirati Therapeut have risen 59.4%. We continue to monitor MRTX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows mirati therapeut

Ticker(s): MRTX