Market Overview

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

Share:
Related RIGL
Mid-Morning Market Update: Markets Edge Higher; Staples Earnings Miss Views
Mid-Afternoon Market Update: Dow Falls 50 Points; H & R Block Shares Spike Higher
Rigel: Upcoming NDA Submission Presents Buying Opportunity (Seeking Alpha)

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

DateFirmActionFromTo
Sep 2016JefferiesMaintainsBuy
Aug 2016BMO CapitalMaintainsOutperform
Aug 2016BMO CapitalInitiates Coverage onOutperform

View More Analyst Ratings for RIGL
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (RIGL)

View Comments and Join the Discussion!