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RIGL

Rigel Pharmaceuticals

$3.35

0.01 (0.30%)

14:16
04/12/18
04/12
14:16
04/12/18
14:16

Rigel rallies as company website shows approval of Tavalisse

Rigel Pharmaceuticals is rallying as investors noticed the company's Investors webpage says Tavalisse has been approved for the treatment of adult patients with chronic immune thrombocytopenia who have had an insufficient response to a previous treatment. The FDA action date for the approval is April 17. It is not known how long the company's website has shown the approval. Rigel's Investors page states, "The company's first FDA approved product is TAVALISSE, an oral spleen tyrosine kinase inhibitor, for the treatment of adult patients with chronic immune thrombocytopenia who have had an insufficient response to a previous treatment. Rigel's current development programs include Phase 2 clinical trials of fostamatinib, in other rare and orphan autoimmune diseases that currently include autoimmune hemolytic anemia and IgA nephropathy. In addition, Rigel continues to build an extensive portfolio of products, monetizing select assets through attractive partnerships." The FDA at this time has not announced approval of Tavalisse. Shares of Rigel are up 28%, or 95c to $4.30 in afternoon trading. Reference Link

  • 17

    Apr

RIGL Rigel Pharmaceuticals
$3.35

0.01 (0.30%)

04/09/18
JPMS
04/09/18
NO CHANGE
JPMS
Overweight
Rigel Pharmaceuticals shares can rally 80% on FDA approval, says JPMorgan
JPMorgan analyst Anupam Rama continues to see a favorable risk/reward profile on Rigel Pharmaceuticals heading into the April 17 FDA action date for Tavalisse in immune thrombocytopenia. The analyst sees a "high probability" of approval for Tavalisse and 50%-80% share upside on the news, "assuming no major surprises in the label." The approval is setting up to be a "true binary event," with potential share downside in the 65%-80% range, Rama tells investors in a research note. He keeps an Overweight rating on Rigel shares.
04/04/18
JEFF
04/04/18
NO CHANGE
Target $5
JEFF
Buy
Rigel selloff yesterday on failed study overdone, says Jefferies
Jefferies analyst Eun Yang says that while yesterday's Phase 2 trial results in IgA nephropathy, fostamatinib's third indication, is "somewhat disappointing," it does not change her valuation or upcoming approvability in first indication immune thrombocytopenic purpura. The analyst views the selloff yesterday in shares of Rigel Pharmaceuticals as overdone. She believes the failed study has no bearing on the approval in ITP, which has an FDA action date of April 17. Yang reiterates a Buy rating on Rigel with a $5 price target.
04/03/18
HCWC
04/03/18
NO CHANGE
Target $6.7
HCWC
Buy
H.C. Wainwright says Rigel's 'small setback' a buying opportunity ahead of PDUFA
H.C. Wainwright analyst Joseph Pantginis called news that Rigel Pharmaceuticals' Phase 2 study of fostamatinib in patients with IgA nephropathy did not meet its primary endpoint a "small setback" for the company and an opportunity for investors. He believes today's selling pressure is an overreaction, adding that "brighter skies may be tomorrow, almost literally," with the company's PDUFA date for fostamatinib in ITP coming on April 17. Pantginis reiterates a Buy rating on Rigel and trimmed his price target on the stock to $6.70 from $7.
04/03/18
JEFF
04/03/18
NO CHANGE
Target $5
JEFF
Buy
Rigel selloff on IgAN trial miss overdone, says Jefferies
Jefferies analyst Eun Yang called the fact that Rigel Pharmaceuticals' Phase 2 trial evaluating fostamatinib in IgAN failed to meet its primary endpoint "somewhat disappointing," but also said the news does not change his valuation or view on the approvability in patients with chronic or persistent immune thrombocytopenia. The analyst, who said the company is "completely optimistic" for timely approval of fostamatinib in the ITP indication by the PDUFA date of April 17, keeps a Buy rating and $5 price target on Rigel shares, calling today's selloff "overdone."

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