Mirati Therapeutics price target lowered to $90 from $169 at Barclays

Barclays analyst Gena Wang lowered the firm’s price target on Mirati Therapeutics to $90 from $169 and keeps an Overweight rating on the shares. The company received Krazati accelerated approval and the label is largely consistent with Amgen’s Lumakras, Wang tells investors in a research note. The analyst expects a gradual uptake given its second to market status, and believes a differentiated profile could lead to greater market share in the longer-term. She dropped the price target to reflect Mirati’s recent updates.