Citi Sees Good Things Ahead for Rigel -- Market Talk

Dow Jones11-12

1201 ET - Citi opens a 30-day upside catalyst watch on Rigel Pharmaceuticals, citing promising data for R289 in relapsed/refractory lower-risk myelodysplastic syndrome. In a research note, Citi says initial data from an abstract to be presented at next month's American Society of Hematology expo appears to present a compelling profile versus Geron's recently launched Rytelo. Citi, with a buy rating on Rigel shares, adds R289 to its Rigel model and its target price on the stock goes to $49 from $40. Rigel up 12% to $24.80 after hitting a new 52-week high earlier in the session. (colin.kellaher@wsj.com)

(END) Dow Jones Newswires

November 11, 2024 12:02 ET (17:02 GMT)

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Citi, with a buy rating on Rigel shares, adds R289 to its Rigel model and its target price on the stock goes to $49 from $40. Rigel up 12% to $24.80 after hitting a new 52-week high earlier in the session. 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In a research note, Citi says initial data from an abstract to be presented at next month's American Society of Hematology expo appears to present a compelling profile versus Geron's recently launched Rytelo. Citi, with a buy rating on Rigel shares, adds R289 to its Rigel model and its target price on the stock goes to $49 from $40. Rigel up 12% to $24.80 after hitting a new 52-week high earlier in the session. 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