Today's most important downgrades

Citi downgraded Mirati Therapeutics (NASDAQ: MRTX) to Neutral from Buy and lowered its price target to $53.00 from $121.00. Shares plunged more than 52% in the last 3 days after the company’s lung cancer therapy (adagrasib) data disappointed investors.

Baird downgraded salesforce.com (NYSE: CRM) to Neutral from Outperform and lowered its price target to $150.00 from $200.00 given the tough macro environment, seat-based software pressure, and the recent executive departures.

JPMorgan downgraded Sinclair Broadcasting (NASDAQ: SBGI) to Underweight from Neutral and cut its price target to $16.00 from $25.00. Shares closed more than 3% lower today.

BTIG downgraded Unity Software (NYSE: U) to Neutral from Buy.

By Davit Kirakosyan

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