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Fly News Breaks for September 28, 2016
MRTX
Sep 28, 2016 | 08:13 EDT
Citi analyst Yigal Nochomovitz believes the recent move to $7 from $5 in shares of Mirati Therapeutics could be attributed to an article published online in the Journal of Thoracic Oncology on Sept. 22 titled "Emergence of pre-existing MET Y1230C mutation as a resistance mechanism to crizotinib in NSCLC with MET exon 14 skipping". Conclusions in the JTO article may suggest some opportunity for Mirati's glesatinib in the crizotinib failure market in MET Exon14del non-small cell lung cancer, despite recent disappointing data at ASCO, Nochomovitz tells investors in a research note. The analyst has a Buy rating on Mirati with a $23 price target.
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