Piper Jaffray reiterated its Overweight rating on Rigel Pharmaceuticals 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.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in