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Fly News Breaks for October 9, 2019
AMGN, MRTX
Oct 9, 2019 | 06:38 EDT
Citi analyst Yigal Nochomovitz continues to have favorable expectations for Mirati Therapeutics' (MTRX) initial MRTX849 data in Q4 and believes that a response rate in non-small-cell lung carcinoma in line with Amgen's (AMGN) ~50% should drive the stock "meaningfully higher." In addition, given the small sample size, the analyst believes that a slightly lower potential response rate, like in the 35%-40% range, "should not by default be viewed as inferior." He keeps a Buy rating on Mirati shares with a $130 price target.
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