Mirati Therapeutics (MRTX) PT Trimmed to $27 at Jefferies

Jefferies analyst Brian Abrahams reiterated a Buy rating and lowered his price target on Mirati Therapeutics (NASDAQ: MRTX) to $27.00 (from $29.00) following Q1 results.

Abrahams commented, "With 1Q earnings largely uneventful, we continue to look ahead to the stream of important 2016 readouts, including upcoming ph.Ib data next month, which appear to remain on track, and will help to validate MRTX's scientific approach. We continue to see opportunity in MRTX's targeted cancer approach, which we believe will generate share appreciation."

For an analyst ratings summary and ratings history on Mirati Therapeutics click here. For more ratings news on Mirati Therapeutics click here.

Shares of Mirati Therapeutics closed at $18.90 yesterday.

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