Piper Jaffray analyst Joshua Schimmer said the primary endpoint response rate of 18% in Rigel's Phase 3 study of fostamatinib leaves "little room for error," but supports a clinically relevant and statistically significant benefit. The data puts the company "in good shape," as it has established proof of concept and gained "some cushion for the next outcome," Schimmer tells investors. Schimmer increased his price target on Rigel shares to $11 from $10 and keeps an Overweight rating on the shares, which have been volatile this morning following the company's data report.