UPDATE: Jefferies Cuts PT to $15 on Rigel Pharmaceuticals on Disappointing Fostamatinib Results

Jefferies reiterated its Buy rating on Rigel Pharmaceuticals (NASDAQ: RIGL ) but lowered its price target from $21 to $15. Jefferies noted, "RIGL announced OSKIRA-4 results in which fostamatinib monotherapy failed to show non-inferiority to Humira. In a separate analysis, higher dose regimens of fostamatinib showed superiority against placebo.