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MRTX

Mirati Therapeutics

$73.57

-0.12 (-0.16%)

, AMGN

Amgen

$196.14

-0.86 (-0.44%)

06:38
10/09/19
10/09
06:38
10/09/19
06:38

Mirati Q4 data could send stock 'meaningfully higher,' says Citi

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.

MRTX

Mirati Therapeutics

$73.57

-0.12 (-0.16%)

AMGN

Amgen

$196.14

-0.86 (-0.44%)

  • 29

    Oct

  • 06

    Nov

MRTX Mirati Therapeutics
$73.57

-0.12 (-0.16%)

09/09/19
CANT
09/09/19
NO CHANGE
Target $81
CANT
Neutral
Cantor warrants caution on Mirati after Amgen data, sees 7%-11% selloff
Cantor Fitzgerald analyst Varun Kumar warrants caution on shares of Mirati Therapeutics (MRTX) ahead of its MRTX849 data following Amgen's (AMGN) update from its KRAS G12C program, AMG 510. Updated response rates data "are not a 'slam dunk' as may have been broadly expected, and further follow-up is needed for a more-matured verdict," Kumar tells investors in a research note. Further, durability will likely be the talking point in the near term, as KRASi G12C market size needs to be carefully assessed versus what's currently reflected by market estimates, adds the analyst. He thinks Mirati shares could trade down 7%-11% given some caution on the response rate trend as the cohort size gets larger and due to an increasing focus on response durability, which he thinks may change the U.S. peak sales estimates for KRAS G12C non-small-cell lung carcinoma market to $1.8B-$3.6B. Kumar lowered his price target for Mirati Therapeutics to $81 from $85 and reiterates a Neutral rating on the name. The stock in premarket trading is down 4% to $87.27. Jefferies this morning upgraded the shares to Buy following Amgen's data.
09/24/19
GUGG
09/24/19
UPGRADE
GUGG
Buy
Mirati Therapeutics upgraded to Buy from Neutral at Guggenheim
09/24/19
GUGG
09/24/19
UPGRADE
Target $116
GUGG
Buy
Mirati Therapeutics upgraded to Buy ahead of KRAS G12C data at Guggenheim
Guggenheim analyst Michael Schmidt upgraded Mirati Therapeutics (MRTX) to Buy from Neutral with a $116 price target ahead of Phase 1 data expected to be reported in Q4 on the company's KRAS G12C inhibitor, MRTX849. While it is still uncertain how Mirati's drug compares to others in the class, particularly most advanced competitor Amgen's (AMGN) AMG 510, Schmidt sees the risk/reward of owning Mirati shares as skewed to the upside following clinical updates provided by Amgen at a recent conference. Assuming MRTX849 has a comparable clinical profile compared to AMG 510, the company will have an opportunity to participate in a potential $6.4B global market for KRAS G12C inhibitors, Schmidt tells investors.
09/27/19
FBCO
09/27/19
NO CHANGE
Target $115
FBCO
Outperform
Mirati Therapeutics price target lowered to $115 from $120 at Credit Suisse
Credit Suisse analyst Evan Seigerman maintained an Outperform rating on Mirati Therapeutics (MRTX) and lowered his price target to $115 from $120 following the interim data update from the company's only clinical stage KRAS inhibitor competitor from Amgen (AMGN), AMG 510. In a research note to investors, Seigerman says he believes Amgen's AMG 510 is more than six months ahead of MRTX849 and sees potential for the first-mover to capture significant share given the high unmet need. The analyst remains positive on both programs, but is taking a conservative view as he awaits interim MRTX849 data.
AMGN Amgen
$196.14

-0.86 (-0.44%)

09/29/19
PIPR
09/29/19
NO CHANGE
Target $218
PIPR
Overweight
Piper Jaffray remains bullish on Amgen after update on AMG 510
Piper Jaffray analyst Christopher Raymond reiterates an Overweight rating and a $218 price target on Amgen's shares after an update on AMG 510 at ESMO. As expected, no additional durability data were provided for mutant KRAS-G12C NSCLC patients, but initial responses and follow up from a more meaningful number of CRC patients were presented at the RP2D. While durability remains immature, the company believes the lack of improved responses in CRC supports further development of AMG 510 as a combo treatment in this patient population, he contends.
09/30/19
FBCO
09/30/19
NO CHANGE
Target $225
FBCO
Outperform
Credit Suisse still bullish on Amgen, sees possible weakness following ESMO data
Commenting on Amgen's updated data for AMG510 in colorectal and appendiceal cancers presented at ESMO, Credit Suisse analyst Evan Seigerman notes that the objective response rate was much lower than what he saw in non-small cell lung cancer at 3% in all patients and 8% in the highdose cohort. While there was a decent disease control rate, the analyst argues that it is clear that biologic differences between lung and CRC patients are driving significantly different clinical results. Given the divergence between the lung cohort and the CRC patients, Seigerman expects potential weakness in Amgen's shares. Nonetheless, the analyst remains positive on AMG 510 in NSCLC with potential for other combinations or monotherapy, and reiterates an Outperform rating and $225 price target on the stock.
09/30/19
JPMS
09/30/19
NO CHANGE
JPMS
Neutral
Amgen colorectal cancer update 'underwhelming,' says JPMorgan
Amgen's updated AMG 510 KRAS data presented over the weekend did little to boost expectations for monotherapy treatment in colorectal cancer, JPMorgan analyst Cory Kasimov tells investors in a research note. Most of the early enthusiasm for the KRAS class is for lung cancer, and this is likely to remain the case for the time being, adds the analyst. He views Amgen's weekend update as "underwhelming" and keeps a Neutral rating on the shares. Kasimov thinks the colorectal cancer indication will ultimately require a combo approach.

TODAY'S FREE FLY STORIES

NVRO

Nevro

$85.85

0.88 (1.04%)

16:27
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  • 06

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WSFS

WSFS Financial

$44.14

0.02 (0.05%)

16:26
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WSFS Financial reports Q3 EPS 98c, consensus 87c »

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QTNT

Quotient

$8.13

-0.33 (-3.90%)

16:25
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Conference/Events
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HXL

Hexcel

$74.60

-1.61 (-2.11%)

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$331.09

-13 (-3.78%)

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  • 22

    Oct

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XAIR

Beyond Air

$4.32

(0.00%)

16:25
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IRTC

iRhythm

$66.11

-3.22 (-4.64%)

16:25
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HXL

Hexcel

$74.60

-1.61 (-2.11%)

16:24
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Hot Stocks
Hexcel reports Q3 gross margin 27.6% vs. $26.5% last year »

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  • 22

    Oct

VCYT

Veracyte

$26.18

1.52 (6.16%)

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  • 22

    Oct

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CRVS

Corvus Pharmaceuticals

$3.50

-0.11 (-3.05%)

16:23
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Conference/Events
Corvus Pharmaceuticals management to meet with Jefferies »

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  • 22

    Oct

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    Oct

HXL

Hexcel

$74.60

-1.61 (-2.11%)

16:22
10/21/19
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16:22
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16:22
Earnings
Hexcel backs FY19 EPS view $3.43-$3.53 , consensus $3.54 »

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  • 22

    Oct

AHT

Ashford Hospitality

$2.94

0.01 (0.34%)

, BHR

Braemar Hotels & Resorts

$9.37

0.225 (2.46%)

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AHT

Ashford Hospitality

$2.94

0.01 (0.34%)

BHR

Braemar Hotels & Resorts

$9.37

0.225 (2.46%)

AINC

Ashford

$22.33

-0.13 (-0.58%)

03/08/13
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  • 24

    Oct

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    Nov

VREX

Varex Imaging

$29.17

0.45 (1.57%)

16:22
10/21/19
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16:22
Initiation
Varex Imaging initiated  »

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CRY

CryoLife

$24.00

0.32 (1.35%)

16:22
10/21/19
10/21
16:22
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16:22
Initiation
CryoLife initiated  »

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  • 30

    Oct

SITC

Site Centers

$15.26

0.165 (1.09%)

16:22
10/21/19
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16:22
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16:22
Syndicate
Site Centers files to sell 10.5M shares of common stock »

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  • 30

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HXL

Hexcel

$74.60

-1.61 (-2.11%)

16:22
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Earnings
Hexcel cuts FY19 revenue view to $2.34B-$2.40B from $2.38B-$2.48B 

Consensus $2.43B.

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  • 22

    Oct

FCX

Freeport McMoRan

$9.82

0.245 (2.56%)

, T

AT&T

$38.23

-0.23 (-0.60%)

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FCX

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$9.82

0.245 (2.56%)

T

AT&T

$38.23

-0.23 (-0.60%)

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  • 22

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HXL

Hexcel

$74.60

-1.61 (-2.11%)

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Earnings
Hexcel reports Q3 EPS 90c, consensus 88c »

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  • 22

    Oct

SITC

Site Centers

$15.26

0.165 (1.09%)

16:20
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Earnings
Site Centers reports preliminary Q3 OFF 30c, consensus 28c »

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  • 30

    Oct

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    Nov

KDMN

Kadmon

$3.08

0.17 (5.84%)

16:20
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VRAY

ViewRay

$2.50

-0.02 (-0.80%)

16:20
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Initiation
ViewRay initiated  »

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  • 12

    Nov

VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
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Options
Closing CBOE SPX and VIX Index summary for October 21st »

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VRTX

Vertex

$183.73

7.49 (4.25%)

16:20
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Hot Stocks
Breaking Hot Stocks news story on Vertex 

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  • 19

    Mar

FBP

First BanCorp

$10.24

-0.01 (-0.10%)

16:19
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  • 22

    Oct

  • 13

    Nov

ACC

American Campus

$49.60

0.44 (0.90%)

16:18
10/21/19
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Earnings
American Campus narrows FY19 FFOM view to $2.40-$2.44 from $2.35-$2.45 

Consensus $2.42.

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  • 22

    Oct

  • 12

    Nov

GIFI

Gulf Island Fabrication

$5.63

0.045 (0.81%)

16:18
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  • 05

    Nov

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