Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Rigel Pharmaceuticals, Inc. (RIGL) -- Ignore unavailable to you. Want to Upgrade?

To: mopgcw who wrote (443)	6/9/2009 12:59:02 PM
From: Steve Lokness	Respond to of 566

Rodman and Renshaw like it and give RIGL a generous target price; Analyst: Rigel arthritis drug poised to compete Rodman & Renshaw analyst expects Rigel Pharmaceuticals arthritis drug to perform well On Tuesday June 9, 2009, 12:38 pm EDT NEW YORK (AP) -- Shares of Rigel Pharmaceuticals Inc. jumped Tuesday after a Rodman & Renshaw analyst gave the stock a positive rating, citing the potential for a developing rheumatoid arthritis drug to compete in the market. Related Quotes Symbol Price Change The stock rose 67 cents, or 7 percent, to $10.20 in afternoon trading. Shares of the South San Francisco, Calif.-based company have traded between $4.19 and $27.18 over the past 52 weeks. Rodman & Renshaw analyst Simos Simeonidis gave the stock an "Outperform" rating and expects shares to reach $33 over the next 12 months as the drug candidate R788 advances through development. It is currently in midstage clinical trials, with study data expected in July. The drug candidate has the potential to "become a significant player" in the rheumatoid arthritis market, he said, in a note to investors, citing its effectiveness so far in trials and oral administration. He expects upcoming data in July to be positive, reinforcing the view that R788 is approvable and could take significant market share away from injectable drugs. R788 would enter a market against several entrenched treatments for the condition, including Biogen Idec Inc. and Genentech's Rituxan and Amgen's Enbrel, both of which are injections. A partnership for R788 is likely the next major catalyst for Rigel, Simeonidis said. Potential partners would likely prefer to wait until after the an FDA meeting before making a decision, he added, and expects a deal to occur in the fourth quarter or early in 2010. finance.yahoo.com