$MRTX Upgrade bullish for Mirati Therapeutics.

Entry level $74 = target price $89 = Stop loss $68.80
Citi analyst Yigal Nochomovitz continues to have favorable expectations for Mirati Therapeutics' ( MTRX ) initial MRTX849 data in Q4 and believes that a response rate in non-small-cell lung carcinoma in line with Amgen's ( AMGN ) ~50% should drive the stock "meaningfully higher." In addition, given the small sample size, the analyst believes that a slightly lower potential response rate, like in the 35%-40% range, "should not by default be viewed as inferior." He keeps a Buy rating on Mirati shares with a $130 price target.
Source the fly

Average analysts price target $109 | Overweight
Short interest 12%
Company profile
Mirati Therapeutics , Inc. is a clinical-stage oncology company, which engages in developing a pipeline of oncology products to treat genetic, immunological and epigenetic drivers of cancer in subsets of cancer patients. Its clinical pipeline consists of glesatinib, sitravatinib and mocetinostat. The company was founded on December 13, 1995 and is headquartered in San Diego, CA.

Comment: that worked out well
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