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Fly News Breaks for May 16, 2016
RIGL
May 16, 2016 | 07:31 EDT
Jefferies analyst Eun Yang believes Rigel Pharmaceuticals shares are pricing in little expectation for the Phase 3 fostamatinib data in Immune Thrombocytopenic Purpura. The stock has "meaningful upside" should the trial succeed, Yang tells investors in a research note. The data are expected in August or October of this year. Yang views Rigel's risk/reward as favorable at current valuation levels and keeps a Buy rating on the name. She lowered her price target for the shares to $8 from $10 to reflect lower sales potential for fostamatinib.
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