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UPDATE: Piper Jaffray Cuts PT to $8 on Rigel Pharmaceuticals Following Disappointing Phase II Results

Related RIGL
Rigel Granted Orphan Drug Designation for Fostamatinib in ITP
Earnings Scheduled For March 3, 2015

Piper Jaffray reiterated its Overweight rating on Rigel Pharmaceuticals (NASDAQ: RIGL) and increased its price target from $14 to $8.

Piper Jaffray commented, "We are maintaining our Overweight rating but cutting our price target to $8 from $14 following disappointing results from the OSKIRA-4 Phase II trial. In particular, fostamatinib's inability to achieve non-inferiority to Abbott's Humira could have negative commercial implications. As a result, we have reduced our fostamatinib revenue estimates."

Rigel Pharmaceuticals closed at $5.90 on Wednesday.

Latest Ratings for RIGL

Mar 2014JefferiesMaintainsBuy
Jun 2013JefferiesMaintainsBuy
Jun 2013Piper JaffrayDowngradesOverweightNeutral

View More Analyst Ratings for RIGL
View the Latest Analyst Ratings

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