BMO Capital raised the firm’s price target on Mirati Therapeutics (MRTX) to $72 from $31 but keeps a Market Perform rating on the shares. The analyst is citing the news of potential takeout from Sanofi (SNY) and positive read through from Amgen’s (AMGN) Lumakras AdCom. The firm maintains however that the path to front-line NSCLC approval for Krazati is “long, challenging, and of higher risk, following recent data updates”, also stating that the stock now reflects the potential takeout premium.
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