Investors certainly have to be happy with Mirati Therapeutics, Inc. (MRTX) and its short term performance. After all, the stock has jumped by 29.3% in the past 4 weeks, and it is also above its 20 Day Simple Moving Average as well. This is certainly a good trend, but investors are probably asking themselves, can this positive trend continue for MRTX?
While we can never know for sure, it is pretty encouraging that estimates for MRTX have moved higher in the past few weeks, meaning that analyst sentiment is moving in the right way. On Mar 11, the company reported narrower-than-expected fourth quarter loss per share. Plus, the stock actually has a Zacks Rank #2 (Buy), so the recent move higher for this spotlighted company may definitely continue over the next few weeks.
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