Leerink Swann Starts Rigel Pharmaceuticals (RIGL) at Outperform; Top Biotech with Two Drivers

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Leerink Swann initiates coverage on Rigel Pharmaceuticals (NASDAQ: RIGL) with an Outperform. PT $16.00.

Analyst, Irene Lau, said, "RIGL is a top biotech pick for us over the next 12 months based on potential for AZN-partnered Fostamatinib (Fos-D, syk-kinase inhibitor) and proprietary R343 for asthma. Fos-D may be the second innovative oral therapy on the market for rheumatoid arthritis (RA) patients."

"Mid-2013, R343 Phase II data could be a further driver or mitigate weakness in the unlikely event Fos-D encounters difficulties."

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 $9.89 yesterday, with a 52 week range of $6.60-$11.44.

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