B. Riley analyst Kalpit Patel raised the firm’s price target on Mirati Therapeutics to $56 from $52 and keeps a Neutral rating on the shares after the FDA cleared the Investigational New Drug application for MRTX1133. The analyst acknowledges the potential for robust Phase I data for MRTX1133 serves as a key risk to the firm’s neutral thesis. However, it is unclear whether the drug can achieve plasma exposures required for such clinical activity, B. Riley tells investors in a research note.
Published first on TheFly
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