Rigel Pharmaceuticals (RIGL) PT Raised to $6 at BMO Capital Following Positive ITP Study

August 30, 2016 8:21 AM EDT
Get Alerts RIGL Hot Sheet
Price: $2.58 -4.09%

Rating Summary:
    6 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 27 | New: 7
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BMO Capital analyst Do Kim reiterated an Outperform rating and raised his price target on Rigel Pharmaceuticals (NASDAQ: RIGL) to $6.00 (from $4.00) following positive results from the first of two Phase III trials for fostamatinib in chronic ITP.

"We believe the significant 18% response rate versus placebo support FDA approval (pending similar results from second study) and our WW peak sales estimate of $742mn in ITP," Kim commented. "Furthermore, it increases the chances of the AIHA Phase II study given the same disease mechanism."

For an analyst ratings summary and ratings history on Rigel Pharmaceuticals click here. For more ratings news on Rigel Pharmaceuticals click here.

Shares of Rigel Pharmaceuticals closed at $2.64 yesterday.

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