JonesResearch analyst Soumit Roy downgraded Mirati Therapeutics (MTRX) to Hold from Buy with a price target of $58, up from $47, after Bristol Myers Squibb (BMY) said it will acquire Mirati for $58 per share plus a contingent value right of $12 per share. The analyst expects the transaction to close by the first half of 2024. Although there is a possibility of additional bids, there is a high probability of the acquisition to go through, the analyst tells investors in a research note.
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