JPMorgan analyst Eric Joseph downgraded Mirati Therapeutics to Neutral from Overweight with a price target of $65, down from $94. The analyst also removed the shares from the firm’s Analyst Focus List. Following the full KRYSTAL-7 dataset, Joseph sees a challenging outlook for adagrasib as a combo partner to pembrolizumab in non-small-cell lung cancer. He believes it is more likely that Mirati ‘s Phase 3 efforts suffer the headwinds from earlier stage G12Ci competitors.
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