According to Jefferies, Rigel Pharmaceuticals RIGL was in line with their estimate for 1Q Earnings and believes in a long-term upside for RIGL.
In the report, Jefferies said, "We continue to believe in the long-term upside for RIGL shares given the
potential for new oral rheumatoid arthritis (RA) drugs like fostamatinib (R788). The company remains on track for a potential regulatory filing in the U.S. by mid-2013 to enable a launch in 2014."
Rigel Pharmaceuticals closed at $8.51 yesterday.
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