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UPDATE: Stifel Nicolaus Cuts PT to Rigel Pharmaceuticals on Model Changes Post Data

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

Stifel Nicolaus reiterated its Buy rating on Rigel Pharmaceuticals (NASDAQ: RIGL) but reduced its price target from $13 to $11.

Stifel Nicolaus commented, "Rigel's development/collaboration partner AstraZeneca provided top-line results from the P2b OSKIRA-4 study evaluating fostamatinib vs. placebo vs. Humira. … We've lowered our peak sales estimates (now $1.5-1.7 billion) to reflect both increased competitive risk and a more-modest adoption curve amongst the majority of rheumatologists seemingly still prioritizing safety/experience over convenience (Pfizer's TNF-like pricing of tofacitinib likely won't help here either). We believe today's price-action implies too-steep of a risk-adjustment into P3 OSKIRA data and we remain Buy-rated."

Rigel Pharmaceuticals closed at $5.51 on Thursday.

Latest Ratings for RIGL

Mar 2014JefferiesMaintainsBuy
Jun 2013JefferiesMaintainsBuy
Jun 2013Piper JaffrayDowngradesOverweightNeutral

View More Analyst Ratings for RIGL
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Price Target Intraday Update Analyst Ratings


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