Jefferies Maintains a 'Buy' on Rigel Pharmaceuticals (RIGL); Update On R343 And Early Pipeline

Jefferies maintains a 'Buy' on Rigel Pharmaceuticals (NASDAQ: RIGL) price target of $14.00.

Jefferies analyst says, "RIGL provided an update to its product pipeline, focusing on its SYK inhibitor R343 for asthma. Early data have demonstrated encouraging proof-of-concept activity in asthma challenge studies. We continue to believe in the long-term upside for shares given the potential for new oral rheumatoid arthritis drugs like RIGL’s fostamatinib."

For more ratings news on Rigel Pharmaceuticals click here and for the rating history of Rigel Pharmaceuticals click here.

Shares of Rigel Pharmaceuticals closed at $8.00 yesterday.

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