Guggenheim analyst Michael Schmidt raised his price target for Mirati Therapeutics to $128 from $116 and keeps a Buy rating on the shares following the company's Q3 results. The company previously presented data on MRTX849, which served as an "incremental de-risking event," Schmidt tells investors in a research note. He believes MRTX849 "now stands in its own right" after prior external validation of anti-G12C mechanism by competitor AMG-510. As such, he increased his probability-of-success assumptions to 70% and 40% in non-small-cell lung carcinoma and colorectal cancer respectively, from 60% and 30% previously. Schmidt keeps a Buy rating on Mirati Therapeutics.