Mirati Therapeutics price target lowered to $42 from $51 at Morgan Stanley

Morgan Stanley analyst Michael Ulz lowered the firm’s price target on Mirati Therapeutics to $42 from $51 and keeps an Equal Weight rating on the shares. The firm, which notes its estimates are “slightly below consensus” on Krazati Q2 sales, expects focus to remain on early launch dynamics for Krazati and any updates related to the strategy outside the U.S.