Jefferies Maintains Positive Stance on Rigel Pharmaceuticals (RIGL)

Jefferies reiterated their Buy and $14 price target on Rigel Pharmaceuticals (NASDAQ: RIGL) following a presentation at the Jefferies 2011 Global Healthcare Conference.

The firm states, "At our healthcare conference, RIGL management provided an update on the R343 asthma program. We believe this pipeline asset represents potential upside to our valuation. We continue to believe in the long-term upside for RIGL shares given the potential for fostamatinib (R788) for rheumatoid arthritis."

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 $8.02 yesterday.

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